rewrite this title Axsome therapeutics CEO Herriot Tabuteau sells $11.9 million in shares By Investing.com

Herriot Tabuteau, Chief Executive Officer of Axsome Therapeutics, Inc. (NASDAQ:AXSM), sold common stock totaling approximately $11.9 million on July 1, 2026, following the exercise of stock options. The transactions were executed under a pre-approved 10b5-1 trading plan.

Mr. Tabuteau disposed of 49,666 shares of Axsome Therapeutics common stock. The shares were sold at a weighted average price of $240.25 per share, with individual sale prices ranging from $237.64 to $244.71. The total value of these sales amounted to $11,932,256. The sale comes as the stock has delivered a 134% return over the past year, according to InvestingPro data, which currently shows the stock trading near its Fair Value. The company’s shares have surged 32% in the last six months alone.

These shares were acquired through the exercise of an equal number of stock options, which were set to expire due to their 10-year expiration date. Mr. Tabuteau acquired the 49,666 shares at a price of $4.95 per share, totaling $245,846.

Following these transactions, Mr. Tabuteau directly holds 7,229 shares of Axsome Therapeutics common stock. Additionally, he indirectly holds 7,344,500 shares through an entity where he has voting and dispositive power. For deeper insights into Axsome’s financial health and additional InvestingPro Tips, investors can access the comprehensive Pro Research Report, available for this and 1,400+ other US equities.

In other recent news, Axsome Therapeutics has dosed its first patient in the FOCUS-3 Phase 3 trial aimed at evaluating solriamfetol for adolescents with ADHD. This trial is a randomized, double-blind, placebo-controlled study that will involve approximately 468 patients. Meanwhile, TD Cowen has raised its price target for Axsome Therapeutics to $300, maintaining a Buy rating due to the expansion of the company’s Auvelity launch and its promising pipeline. Jefferies has also increased its price target for Axsome to $380, citing potential peak sales of Auvelity in major depression and Alzheimer’s agitation that could exceed $6 billion. Axsome presented data on its narcolepsy treatments, AXS-12 and solriamfetol, at the SLEEP 2026 conference, showcasing their ongoing research efforts. These developments reflect Axsome’s active engagement in advancing its treatment portfolio and expanding its market presence.

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