Axsome Therapeutics (NASDAQ:AXSM) CEO Herriot Tabuteau Sells 49,252 Shares

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 49,252 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $144.59, for a total value of $7,121,346.68. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,045,241.11. This represents a 87.20% decrease in their ownership of the stock. The sale 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 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 value of $1,564,484.44.
• 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 shares were sold at an average price of $133.79, for a total value 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 shares were sold at an average price of $132.34, for a total value of $12,136,239.70.
• On Tuesday, October 7th, Herriot Tabuteau sold 13,390 shares of Axsome Therapeutics stock. The shares were sold at an average price of $118.77, for a total transaction of $1,590,330.30.
• On Wednesday, October 8th, Herriot Tabuteau sold 12,774 shares of Axsome Therapeutics stock. The stock was sold at an average price of $118.84, for a total value of $1,518,062.16.
• On Monday, October 6th, Herriot Tabuteau sold 19,220 shares of Axsome Therapeutics stock. The shares were sold at an average price of $120.17, for a total value of $2,309,667.40.
• On Tuesday, September 16th, Herriot Tabuteau sold 19,719 shares of Axsome Therapeutics stock. The stock was sold at an average price of $114.19, for a total value of $2,251,712.61.
• On Friday, September 12th, Herriot Tabuteau sold 27,907 shares of Axsome Therapeutics stock. The stock was sold at an average price of $118.96, for a total transaction of $3,319,816.72.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $148.04 on Friday. The company has a 50 day simple moving average of $134.32 and a two-hundred day simple moving average of $118.51. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $152.94. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of -31.70 and a beta of 0.48. 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 (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $162.96 million. The business’s quarterly revenue was up 63.2% on a year-over-year basis. Analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analysts Set New Price Targets

AXSM has been the topic of a number of research analyst reports. HC Wainwright boosted their price target on Axsome Therapeutics from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Royal Bank Of Canada upped their target price on shares of Axsome Therapeutics from $189.00 to $198.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Wells Fargo & Company cut their price target on Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating for the company in a report on Tuesday, November 4th. Morgan Stanley increased their target price on Axsome Therapeutics from $194.00 to $196.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, B. Riley began coverage on shares of Axsome Therapeutics in a report on Wednesday, October 1st. They issued a “buy” rating and a $179.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $179.88.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in shares of Axsome Therapeutics by 55.4% during the second quarter. Bank of New York Mellon Corp now owns 203,632 shares of the company’s stock valued at $21,257,000 after acquiring an additional 72,609 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Axsome Therapeutics in the 1st quarter valued at $10,805,000. Nuveen LLC purchased a new position in Axsome Therapeutics in the 1st quarter worth $48,185,000. Swiss National Bank lifted its position in Axsome Therapeutics by 6.9% during the 2nd quarter. Swiss National Bank now owns 65,200 shares of the company’s stock worth $6,806,000 after acquiring an additional 4,200 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in Axsome Therapeutics by 154.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 4,424 shares of the company’s stock valued at $462,000 after purchasing an additional 2,686 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.