Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Axsome Therapeutics Inc shares valued at $1,005,871 were sold by Saad Mark E on Sep 11 ’24. At $91.31 per share, Saad Mark E sold 11,016 shares. The insider’s holdings dropped to 10,002 shares worth approximately $0.98 million following the completion of this transaction.
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Also, Saad Mark E purchased 11,016 shares, netting a total of over 1,005,843 in proceeds.
Before that, Jacobson Mark L. had sold 47,739 shares from its account. In a trade valued at $4,022,488, the Chief Operating Officer traded Axsome Therapeutics Inc shares for $84.26 each. Upon closing the transaction, the insider’s holdings decreased to 47,739 shares, worth approximately $0.57 million.
As published in their initiating research note from Wells Fargo on September 03, 2024, Axsome Therapeutics Inc [AXSM] has been an Overweight and the price target has been revised to $140. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early August. As of July 22, 2024, Needham has initiated its “Buy” rating for AXSM. Earlier on April 29, 2024, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for AXSM stock which previously was a “an Equal-weight”.
Analyzing AXSM Stock Performance
During the last five days, there has been a surge of approximately 7.54%. Over the course of the year, Axsome Therapeutics Inc shares have jumped approximately 22.92%. Shares of the company reached a 52-week high of $105.00 on 11/13/24 and a 52-week low of $64.11 on 06/11/24. A 50-day SMA is recorded $90.59, while a 200-day SMA reached $82.54. Nevertheless, trading volume fell to 1.23 million shares from 1.57 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 95.38, which, if violated, would cause prices to drop to 92.93. In the upper region, resistance lies at 102.64. The next price resistance is at 107.45. RSI (Relative Strength Index) is 65.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.09, which suggests the price will increase in the coming days. Percent R is at 37.86%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
