Axsome Therapeutics (NASDAQ:AXSM) CEO Herriot Tabuteau Sells 45,004 Shares

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 45,004 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $212.01, for a total transaction of $9,541,298.04. Following the completion of the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,532,620.29. This represents a 86.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, August 6th, Herriot Tabuteau sold 4,660 shares of Axsome Therapeutics stock. The shares were sold at an average price of $213.95, for a total transaction of $997,007.00.
• On Wednesday, July 1st, Herriot Tabuteau sold 49,666 shares of Axsome Therapeutics stock. The stock was sold at an average price of $240.25, for a total transaction of $11,932,256.50.
• 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 $212.74 on Friday. The stock has a market capitalization of $10.95 billion, a price-to-earnings ratio of -57.03 and a beta of 0.65. Axsome Therapeutics, Inc. has a 1-year low of $102.67 and a 1-year high of $260.19. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The business’s fifty day moving average price is $236.95 and its 200-day moving average price is $203.96.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Axsome Therapeutics in the 2nd quarter worth $759,695,000. Wellington Management Group LLP lifted its position in shares of Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after acquiring an additional 609,516 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Axsome Therapeutics by 1,230.2% in the first quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock worth $97,606,000 after acquiring an additional 534,066 shares during the period. Norges Bank bought a new position in shares of Axsome Therapeutics in the fourth quarter worth about $90,490,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Axsome Therapeutics by 45.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock worth $275,763,000 after purchasing an additional 472,422 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AXSM. Mizuho lowered their target price on Axsome Therapeutics from $310.00 to $306.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Royal Bank Of Canada boosted their price target on Axsome Therapeutics from $302.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Zacks Research lowered shares of Axsome Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. HC Wainwright reiterated a “buy” rating and issued a $290.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, July 15th. Finally, Guggenheim raised their price objective on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $265.55.

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.