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Axsome Therapeutics Slides as Investors Await Q3 Results Amid Ongoing Biotech Pullback

Investivoq PriceTracker

Axsome Therapeutics (AXSM) is down 7.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely explanation is a mix of pre-earnings caution and continued selling pressure in biotech rather than a single new company-specific negative announcement. Axsome has third-quarter results scheduled for November 2, and with the stock already in a multiweek pullback, investors may be trimming positions amid concern about near-term prescription trends and commercial execution.

Details:

  • Axsome said it plans to report third-quarter 2026 financial results on November 2, putting investor focus on the next update for Auvelity, Sunosi, and Symbravo.
  • No major new negative corporate announcement was easy to identify today, which suggests the drop may reflect sentiment, positioning, or expectations heading into earnings.
  • In its second-quarter update, Axsome reported total net product revenue of $218.4 million, including $180.3 million from Auvelity, and said it launched Auvelity in Alzheimer’s disease agitation in June.
  • The shares have already been under pressure in recent weeks, so today’s move could be part of an extended derating as traders reassess valuation, prescription momentum, and broader biotech risk appetite.

    • Sources:

    Axsome Therapeutics, SEC, AP News

    Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

    $AXSM Insider Trading Activity

    AXSM Insider Trades

    $AXSM insiders have traded $AXSM stock on the open market 16 times in the past 6 months. Of those trades, 0 have been purchases and 16 have been sales.

    Here’s a breakdown of recent trading of $AXSM stock by insiders over the last 6 months:

    • HERRIOT TABUTEAU (Chief Executive Officer) has made 0 purchases and 4 sales selling 149,000 shares for an estimated $34,441,528.
    • NICK PIZZIE (Chief Financial Officer) sold 33,000 shares for an estimated $7,922,970
    • MARK COLEMAN has made 0 purchases and 4 sales selling 18,180 shares for an estimated $4,179,577.
    • MARK L. JACOBSON (Chief Operating Officer) has made 0 purchases and 3 sales selling 14,750 shares for an estimated $3,169,270.
    • SUSAN MAHONY has made 0 purchases and 2 sales selling 600 shares for an estimated $145,017.
    • ROGER JEFFS has made 0 purchases and 2 sales selling 572 shares for an estimated $141,655.

    To track insider transactions, check out Investivoq's insider trading dashboard. You can access data on insider stock transactions through the Investivoq API insider transaction endpoint.

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    $AXSM Hedge Fund Activity

    We have seen 278 institutional investors add shares of $AXSM stock to their portfolio, and 196 decrease their positions in their most recent quarter.

    Here are some of the largest recent moves:

    • BLACKROCK, INC. removed 809,136 shares (-20.7%) from their portfolio in Q2 2026, for an estimated $198,052,218
    • PRICE T ROWE ASSOCIATES INC /MD/ removed 674,166 shares (-51.2%) from their portfolio in Q2 2026, for an estimated $165,015,611
    • MILLENNIUM MANAGEMENT LLC added 535,330 shares (+2578.9%) to their portfolio in Q2 2026, for an estimated $131,032,724
    • WELLINGTON MANAGEMENT GROUP LLP removed 491,386 shares (-42.9%) from their portfolio in Q2 2026, for an estimated $120,276,551
    • ADAGE CAPITAL PARTNERS GP, L.L.C. removed 478,544 shares (-64.9%) from their portfolio in Q2 2026, for an estimated $117,133,214
    • DEEP TRACK CAPITAL, LP removed 400,000 shares (-36.4%) from their portfolio in Q2 2026, for an estimated $97,908,000
    • JANE STREET GROUP, LLC added 399,917 shares (+9806.7%) to their portfolio in Q2 2026, for an estimated $97,887,684

    To track hedge funds' stock portfolios, check out Investivoq's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Investivoq API 13F endpoint.

    $AXSM Price Targets

    Multiple analysts have issued price targets for $AXSM recently. We have seen 10 analysts offer price targets for $AXSM in the last 6 months, with a median target of $271.0.

    Here are some recent targets:

    • Raghuram Selvaraju from HC Wainwright & Co. set a target price of $290.0 on 07/08/2026
    • Leonid Timashev from RBC Capital set a target price of $304.0 on 07/07/2026
    • Joseph Thome from TD Cowen set a target price of $300.0 on 06/17/2026
    • Ami Fadia from Needham set a target price of $267.0 on 05/05/2026
    • Joel Beatty from Baird set a target price of $246.0 on 05/05/2026
    • Benjamin Burnett from Wells Fargo set a target price of $255.0 on 05/05/2026
    • Yatin Suneja from Guggenheim set a target price of $260.0 on 05/05/2026

    This article is not financial advice. See Investivoq's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.