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Why Axsome Therapeutics shares are falling today

Investivoq PriceTracker

Axsome Therapeutics (AXSM) is down 5.8% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver appears to be a continuation of recent weakness rather than a fresh company-specific setback. This could be because investors are reacting to a string of recent analyst price-target cuts, a sharp pullback from September highs, and the lack of a new near-term catalyst ahead of the company’s next earnings report on November 2, 2026.

Details:

  • Axsome recently said it plans to report third-quarter 2026 financial results on November 2, leaving the stock without an obvious new catalyst in mid-October.
  • Recent analyst actions have leaned cautious on valuation, with price targets trimmed in late September and again on October 8 even as positive ratings were maintained.
  • The shares had already fallen materially from levels above $220 in September to the high-$160s by October 12, suggesting today’s move may reflect ongoing profit-taking and momentum selling.
  • Recent company updates highlighted conference presentations and caregiver survey results, but those announcements did not introduce a major new regulatory, commercial, or clinical development that would clearly offset the broader pullback.

    • Sources:

    Axsome Therapeutics, SEC, Benzinga, Yahoo Finance

    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 17 times in the past 6 months. Of those trades, 0 have been purchases and 17 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.
    • ARI MAIZEL (Chief Commercial Officer) sold 7,500 shares for an estimated $1,368,150
    • 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 282 institutional investors add shares of $AXSM stock to their portfolio, and 186 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.