Several analysts have recently revised their ratings and price targets for Axsome Therapeutics (NASDAQ: AXSM), reflecting the company’s ongoing developments and insider trading activities. These updates come as the company continues to advance its pipeline of late-stage and approved product candidates.
On December 31, 2023, Mark E. Saad, a director at Axsome Therapeutics, sold 37,577 shares of the company’s stock at an average price of $165.18. This transaction amounted to a total value of approximately $6,206,968.86. Following this sale, Saad retains ownership of 10,002 shares, valued at around $1,652,130.36. This marked a significant reduction in his ownership, decreasing by 78.98%.
In a separate transaction on January 21, 2024, insider Ari Maizel sold 7,500 shares at an average price of $184.44, resulting in a total transaction value of $1,383,300.00. Details of these transactions were disclosed in filings with the Securities and Exchange Commission (SEC), which provide transparency regarding insider trading.
Over the last quarter, insiders have collectively sold a total of 440,403 shares of Axsome Therapeutics, with a total value reaching $67,191,178. Currently, company insiders hold 22.30% of the stock, indicating a notable level of insider ownership despite recent sales.
Axsome Therapeutics is positioned within the biopharmaceutical sector, focusing on developing innovative treatments for various central nervous system disorders. As the company progresses, analysts and investors will be closely monitoring further developments, including any impact on stock performance and market perception.
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