Axsome Therapeutics Director Sells Over $2.2 Million in Company Stock From Investing.com
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Recently, Roger Jeffs, Director of Axsome Therapeutics, Inc. (NASDAQ:) sold a significant amount of stock in the company. The transactions, which took place on March 14 and 15, included the sale of common stock totaling more than $2.2 million.
Jeffs completed two separate sales on March 14 involving 13,000 and 16,976 shares, respectively, at a price of $69.702 per share. The next day, he sold 2,347 more shares at $71.6072 per share. Total sales over the two days totaled $2,257,449.
Prior to this sale, Jeffs exercised an option to acquire shares at prices ranging from $22.03 to $29.91, for a total transaction value of $789,986. These exercises involve acquiring shares at a predetermined price and are a common practice among company insiders.
It is worth noting that these transactions were conducted pursuant to a pre-approved trading plan under Rule 10b5-1. This allows insiders to develop predetermined trading plans to buy and sell stock if they do not hold significant non-assets. Public information.
Although the sale has resulted in Jeffs adjusting his direct stake in Axsome Therapeutics, he continues to have indirect ownership of additional shares of the company. Indirect holdings are not part of the reported sale transaction and are held separately.
Investors often monitor insider trading activity, such as directors and officers’ purchases and sales of company stock, to gain insight into company performance and management’s views on the company’s value. However, these transactions may be motivated by a variety of personal and financial considerations and may not always indicate changes in company fundamentals.
Axsome Therapeutics, headquartered in New York, is a biopharmaceutical company focused on developing new treatments for central nervous system disorders.
InvestingPro Insights
Following the recent insider trading activity at Axsome Therapeutics, Inc. (NASDAQ:AXSM), investors want to understand the fundamental financial metrics that could impact the company’s stock performance. Based on real-time data from InvestingPro, the company currently has a market cap of $3.58 billion. Despite an impressive gross margin of 90.37% over the last 12 months as of Q4 2023, Axsome Therapeutics is not expected to be profitable this year, as evidenced by its negative P/E ratio of -14.07 and adjusted -18.15. period.
The company’s revenue has seen significant growth, up 440.8% over the past 12 months as of the fourth quarter of 2023. However, it is important to note that the company is operating with a moderate level of debt and has been flagged by analysts for declining earnings. Revisions for the upcoming period. This could be something to consider for investors assessing the stock’s future trajectory. Axsome’s stock also experienced a decline last month, returning -18.61%, which may reflect market sentiment.
InvestingPro Tips suggests that although Axsome has shown strong profits over the past five years, the company does not pay dividends to shareholders. This may affect the investment decisions of those seeking regular income through investments. For investors looking for a more comprehensive analysis, here are 11 additional InvestingPro tips on Axsome Therapeutics that can be accessed through the InvestingPro platform. Interested readers can use a coupon code: Pro Newz 24 Save an extra 10% on annual or biennial Pro and Pro+ subscriptions.
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