Insider Selling: Axsome Therapeutics (NASDAQ:AXSM) CEO Sells $13,480,249.84 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 78,703 shares of Axsome Therapeutics stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $171.28, for a total value of $13,480,249.84. Following the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $1,238,183.12. This represents a 91.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, January 6th, Herriot Tabuteau sold 29,450 shares of Axsome Therapeutics stock. The shares were sold at an average price of $172.33, for a total transaction of $5,075,118.50.
• On Wednesday, January 7th, Herriot Tabuteau sold 31,261 shares of Axsome Therapeutics stock. The stock was sold at an average price of $170.38, for a total transaction of $5,326,249.18.
• On Thursday, December 4th, Herriot Tabuteau sold 10,558 shares of Axsome Therapeutics stock. The stock was sold at an average price of $148.18, for a total transaction of $1,564,484.44.
• On Tuesday, December 2nd, Herriot Tabuteau sold 49,252 shares of Axsome Therapeutics stock. The shares were sold at an average price of $144.59, for a total transaction of $7,121,346.68.
• On Wednesday, December 3rd, Herriot Tabuteau sold 20,163 shares of Axsome Therapeutics stock. The stock was sold at an average price of $146.94, for a total transaction of $2,962,751.22.
• On Tuesday, November 4th, Herriot Tabuteau sold 50,459 shares of Axsome Therapeutics stock. The stock was sold at an average price of $133.79, for a total transaction of $6,750,909.61.
• On Wednesday, November 5th, Herriot Tabuteau sold 21,775 shares of Axsome Therapeutics stock. The shares were sold at an average price of $134.49, for a total value of $2,928,519.75.
• On Monday, November 3rd, Herriot Tabuteau sold 91,705 shares of Axsome Therapeutics stock. The stock was sold at an average price of $132.34, for a total value of $12,136,239.70.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $169.38 on Friday. The business’s 50-day simple moving average is $150.91 and its 200-day simple moving average is $127.82. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. Axsome Therapeutics, Inc. has a 52 week low of $79.19 and a 52 week high of $184.40. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of -36.27, a P/E/G ratio of 8.83 and a beta of 0.44.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The company had revenue of $170.99 million for the quarter, compared to the consensus estimate of $162.96 million. The firm’s quarterly revenue was up 63.2% compared to the same quarter last year. As a group, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in shares of Axsome Therapeutics by 6.6% in the 3rd quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock valued at $175,000 after purchasing an additional 89 shares during the period. Moors & Cabot Inc. grew its position in Axsome Therapeutics by 4.5% in the second quarter. Moors & Cabot Inc. now owns 2,330 shares of the company’s stock valued at $243,000 after acquiring an additional 100 shares during the period. Meridian Wealth Management LLC raised its stake in Axsome Therapeutics by 0.5% during the third quarter. Meridian Wealth Management LLC now owns 22,124 shares of the company’s stock worth $2,687,000 after acquiring an additional 103 shares in the last quarter. GAMMA Investing LLC raised its stake in Axsome Therapeutics by 65.4% during the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock worth $49,000 after acquiring an additional 106 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Axsome Therapeutics by 1.1% during the second quarter. China Universal Asset Management Co. Ltd. now owns 9,889 shares of the company’s stock valued at $1,032,000 after acquiring an additional 107 shares during the period. Institutional investors own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

AXSM has been the subject of a number of recent analyst reports. Cowen restated a “buy” rating on shares of Axsome Therapeutics in a report on Wednesday, December 31st. Needham & Company LLC reissued a “buy” rating and issued a $225.00 price objective on shares of Axsome Therapeutics in a research report on Monday. Mizuho set a $217.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, December 31st. Wells Fargo & Company cut their price objective on shares of Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating for the company in a research report on Tuesday, November 4th. Finally, HC Wainwright boosted their price target on Axsome Therapeutics from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $192.35.

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.