Axsome Therapeutics (NASDAQ:AXSM) COO Sells 10,000 Shares

Axsome Therapeutics, Inc. (NASDAQ:AXSM) COO Mark Jacobson sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the sale, the chief operating officer directly owned 10,000 shares of the company’s stock, valued at approximately $2,086,500. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Axsome Therapeutics Price Performance

AXSM traded down $1.57 during trading on Thursday, reaching $208.35. The company’s stock had a trading volume of 558,819 shares, compared to its average volume of 661,135. The company has a market cap of $10.91 billion, a price-to-earnings ratio of -55.56 and a beta of 0.71. The firm has a fifty day simple moving average of $224.52 and a two-hundred day simple moving average of $207.48. Axsome Therapeutics, Inc. has a 1 year low of $112.90 and a 1 year high of $260.19. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The company had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. As a group, analysts anticipate that Axsome Therapeutics, Inc. will post -2.8 EPS for the current year.

Analyst Upgrades and Downgrades

AXSM has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $290.00 price objective on shares of Axsome Therapeutics in a research report on Monday. Royal Bank Of Canada reduced their target price on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Guggenheim upped their price target on Axsome Therapeutics from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. Finally, Mizuho raised their price objective on Axsome Therapeutics from $306.00 to $316.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $267.60.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Axsome Therapeutics by 14.9% in the second quarter. GAMMA Investing LLC now owns 347 shares of the company’s stock valued at $85,000 after buying an additional 45 shares in the last quarter. Birchview Capital LP lifted its stake in Axsome Therapeutics by 1.0% during the 4th quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock worth $1,107,000 after acquiring an additional 61 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in 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 Axsome Therapeutics by 2.4% in 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 in the last quarter. Finally, Concurrent Investment Advisors LLC grew its position in Axsome Therapeutics by 4.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,739 shares of the company’s stock valued at $426,000 after acquiring an additional 78 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.