Axsome Therapeutics is trading 4.1% down today at $208.96 following news that BlackRock significantly reduced its position in the company.
- BlackRock disclosed a sale of over 1.17 million shares at $244.77 on June 30, representing a roughly 30% reduction of its stake.
- The sizable institutional exit is pressuring sentiment as a stock-specific driver, especially as broader market indexes are trading higher today.