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A company insider recently sold 7,910 shares of Axsome Therapeutics Inc [AXSM]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Axsome Therapeutics Inc shares valued at $587,813 were sold by Jacobson Mark L. on May 29 ’24. At $74.31 per share, Jacobson Mark L. sold 7,910 shares. The insider’s holdings dropped to 5,783 shares worth approximately $0.43 million following the completion of this transaction.

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Also, Coleman Mark sold 5,248 shares, netting a total of over 394,333 in proceeds. Following the sale of shares at $75.14 each, the insider now holds 14,600 shares.

Before that, Coleman Mark had sold 5,249 shares from its account. In a trade valued at $394,775, the Director traded Axsome Therapeutics Inc shares for $75.21 each. Upon closing the transaction, the insider’s holdings decreased to 5,249 shares, worth approximately $1.49 million.

As published in a research note from Morgan Stanley on April 29, 2024, Axsome Therapeutics Inc [AXSM] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $115 from $90. Analysts at Robert W. Baird started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid March. As of February 06, 2024, UBS has initiated its “Buy” rating for AXSM. Earlier on January 25, 2024, RBC Capital Mkts initiated its rating. Their recommendation was “an Outperform” for AXSM stock.

Analyzing AXSM Stock Performance

During the last five days, there has been a surge of approximately 5.07%. Over the course of the year, Axsome Therapeutics Inc shares have dropped approximately -5.54%. Shares of the company reached a 52-week high of $98.40 on 02/12/24 and a 52-week low of $64.11 on 06/11/24. A 50-day SMA is recorded $73.57, while a 200-day SMA reached $74.83. Nevertheless, trading volume fell to 0.7 million shares from 1.17 million shares the previous day.

Support And Resistance Levels for Axsome Therapeutics Inc (AXSM)

According to the 24-hour chart, there is a support level at 72.73, which, if violated, would cause prices to drop to 70.28. In the upper region, resistance lies at 76.92. The next price resistance is at 78.66. RSI (Relative Strength Index) is 52.85 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.10, which suggests the price will increase in the coming days. Percent R is at 15.91%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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