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Why Axsome Therapeutics Stock Is Soaring Today

Why Axsome Therapeutics Stock Is Soaring Today

Shares of Axsome Therapeutics (NASDAQ: AXSM) were soaring 12.7% higher as of 11:19 a.m. ET on Thursday. Perhaps the most likely explanation for Axsome jumping today is that large institutional investors could be buying the biotech stock. Another possibility is that some short-sellers are covering their positions, creating upward pressure on the share prices in the process.