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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 12, Axsome Therapeutics Inc's Director, Mark Coleman, invested $29,075.00 into 500 shares of AXSM, for a cost per share of $58.15. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Monday, bargain hunters could buy shares of Axsome Therapeutics Inc (NASDAQ:AXSM) and achieve a cost basis even cheaper than Coleman, with shares changing hands as low as $57.86 per share. Axsome Therapeutics Inc shares are currently trading up about 1.5% on the day. The chart below shows the one year performance of AXSM shares, versus its 200 day moving average:
Looking at the chart above, AXSM's low point in its 52 week range is $50.0501 per share, with $90 as the 52 week high point — that compares with a last trade of $59.24. By comparison, below is a table showing the prices at which AXSM insider buying was recorded over the last six months:
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One Reason For Insiders to Buy
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