Insider Selling: Axsome Therapeutics (NASDAQ:AXSM) Director Sells $1,381,800.00 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Mark Coleman sold 6,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the completion of the sale, the director owned 35,140 shares of the company’s stock, valued at $8,092,742. This trade represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Mark Coleman also recently made the following trade(s):

• On Tuesday, June 2nd, Mark Coleman sold 5,537 shares of Axsome Therapeutics stock. The stock was sold at an average price of $223.39, for a total transaction of $1,236,910.43.
• On Friday, May 29th, Mark Coleman sold 6,000 shares of Axsome Therapeutics stock. The stock was sold at an average price of $233.46, for a total transaction of $1,400,760.00.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $231.48 on Friday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. Axsome Therapeutics, Inc. has a one year low of $96.09 and a one year high of $238.56. The company has a 50-day simple moving average of $201.25 and a two-hundred day simple moving average of $178.04. The firm has a market capitalization of $11.91 billion, a PE ratio of -62.06 and a beta of 0.61.

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 the consensus estimate 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 business had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. On average, analysts anticipate that Axsome Therapeutics, Inc. will post -2.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Birchview Capital LP grew its position in shares of Axsome Therapeutics by 1.0% during the 4th quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock valued at $1,107,000 after acquiring an additional 61 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Axsome Therapeutics by 3.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock valued at $351,000 after acquiring an additional 65 shares during the period. Xponance LLC grew its position in shares of Axsome Therapeutics by 2.4% during the 4th quarter. Xponance LLC now owns 3,265 shares of the company’s stock valued at $596,000 after acquiring an additional 76 shares during the period. Assetmark Inc. grew its position in shares of Axsome Therapeutics by 7.2% during the 1st quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock valued at $200,000 after acquiring an additional 79 shares during the period. Finally, Allworth Financial LP grew its position in shares of Axsome Therapeutics by 6.6% during the 3rd quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock valued at $175,000 after acquiring an additional 89 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating on shares of Axsome Therapeutics in a report on Thursday. UBS Group lifted their target price on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a report on Friday, April 10th. Piper Sandler reiterated an “overweight” rating and set a $258.00 target price on shares of Axsome Therapeutics in a report on Monday, May 4th. Truist Financial upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Robert W. Baird lifted their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $251.26.

About Axsome Therapeutics

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.