Tema Etfs LLC Takes Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• Tema Etfs LLC purchased a new stake in Axsome Therapeutics, investing approximately $271,000 for 2,327 shares.
• Axsome Therapeutics reported a quarterly loss of ($0.92) earnings per share, slightly exceeding analysts' expectations, with revenue of $150.04 million for the quarter.
• Analysts have a generally positive outlook on Axsome Therapeutics, with an average target price of $178.00 and several firms maintaining "buy" ratings on the stock.

Tema Etfs LLC acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,327 shares of the company's stock, valued at approximately $271,000.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of Axsome Therapeutics by 42.8% in the first quarter. Principal Financial Group Inc. now owns 295,671 shares of the company's stock valued at $34,484,000 after purchasing an additional 88,606 shares during the period. Penserra Capital Management LLC acquired a new stake in Axsome Therapeutics during the first quarter worth about $2,229,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Axsome Therapeutics by 20.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company's stock worth $4,877,000 after acquiring an additional 9,928 shares during the period. Trek Financial LLC acquired a new stake in Axsome Therapeutics during the first quarter worth about $3,446,000. Finally, Edgestream Partners L.P. purchased a new position in Axsome Therapeutics during the first quarter worth approximately $8,174,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Trading Up 1.7%

NASDAQ:AXSM traded up $2.05 during trading hours on Tuesday, hitting $123.33. The company had a trading volume of 529,486 shares, compared to its average volume of 763,096. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66. The company has a 50-day moving average of $108.60 and a 200 day moving average of $110.92. The company has a market cap of $6.15 billion, a P/E ratio of -24.32 and a beta of 0.54. Axsome Therapeutics, Inc. has a 1 year low of $75.56 and a 1 year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.08. The company had revenue of $150.04 million during the quarter, compared to analysts' expectations of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. Sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

AXSM has been the topic of a number of recent analyst reports. HC Wainwright reiterated a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Wells Fargo & Company restated an "overweight" rating and issued a $165.00 target price (up previously from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. Robert W. Baird raised their target price on Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Morgan Stanley started coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 target price on the stock. Finally, Bank of America raised their target price on Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $178.00.

Insiders Place Their Bets

In other Axsome Therapeutics news, General Counsel Hunter R. Murdock sold 6,014 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $100.12, for a total transaction of $602,121.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark L. Jacobson sold 25,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $110.44, for a total value of $2,761,000.00. Following the sale, the chief operating officer directly owned 5,783 shares of the company's stock, valued at approximately $638,674.52. This trade represents a 81.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,708 shares of company stock valued at $11,720,812 over the last quarter. 22.40% of the stock is owned by insiders.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.