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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 49,666 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,736,767.25. The trade was a 87.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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 transaction of $11,970,966.70.

Axsome Therapeutics Stock Up 1.5%

Axsome Therapeutics stock opened at $244.31 on Friday. The stock has a market capitalization of $12.57 billion, a PE ratio of -65.50 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. Axsome Therapeutics, Inc. has a twelve month low of $96.09 and a twelve month high of $260.19. The company has a 50 day moving average of $229.73 and a 200-day moving average of $191.72.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) 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 analyst estimates of $191.10 million. The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -2.31 EPS for the current fiscal year.

Institutional Trading of Axsome Therapeutics

Several hedge funds have recently modified their holdings of AXSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 purchasing an additional 1,002 shares during the period. Jones Financial Companies Lllp increased its stake in Axsome Therapeutics by 2,407.9% in the 1st quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock valued at $889,000 after buying an additional 7,320 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of 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 acquiring an additional 84,151 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Axsome Therapeutics during the 1st quarter worth $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 worth $8,735,000 after acquiring an additional 17,250 shares during the period. Institutional investors own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AXSM. Needham & Company LLC upped their target price on Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Truist Financial raised shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. Cantor Fitzgerald restated an “overweight” rating and set a $272.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Finally, Guggenheim raised their price objective on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $258.95.

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.