Axsome Therapeutics (NASDAQ:AXSM) CEO Herriot Tabuteau Sells 49,666 Shares of Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 49,666 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $240.25, for a total value of $11,932,256.50. Following the sale, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,736,767.25. This represents a 87.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Herriot Tabuteau also recently made the following trade(s):

• On Tuesday, June 9th, Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $240.66 on Thursday. The business has a 50 day simple moving average of $228.50 and a 200 day simple moving average of $191.04. Axsome Therapeutics, Inc. has a 52-week low of $96.09 and a 52-week high of $260.19. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of -64.52 and a beta of 0.60.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. Analysts anticipate that Axsome Therapeutics, Inc. will post -2.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AXSM has been the subject of a number of research reports. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. Wells Fargo & Company upped their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on Axsome Therapeutics in a report on Tuesday, May 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Monday, April 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target on shares of Axsome Therapeutics in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.95.

Hedge Funds Weigh In On Axsome Therapeutics

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Axsome Therapeutics by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock valued at $2,557,000 after acquiring an additional 1,002 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Axsome Therapeutics by 2,407.9% during the first quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock worth $889,000 after acquiring an additional 7,320 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Axsome Therapeutics by 38.7% during the first quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock valued at $35,189,000 after purchasing an additional 84,151 shares during the last quarter. Caxton Associates LLP acquired a new position in Axsome Therapeutics during the first quarter valued at approximately $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Axsome Therapeutics by 29.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock valued at $8,735,000 after purchasing an additional 17,250 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.