California State Teachers Retirement System increased its stake in AveXis Inc. (NASDAQ:AVXS) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,138 shares of the company’s stock after buying an additional 238 shares during the period. California State Teachers Retirement System’s holdings in AveXis were worth $385,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the company. Deerfield Management Co. acquired a new position in shares of AveXis during the first quarter valued at about $60,928,000. VHCP Management II LLC acquired a new position in shares of AveXis during the first quarter valued at about $24,501,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of AveXis during the first quarter valued at about $10,896,000. BlackRock Group LTD acquired a new position in shares of AveXis during the first quarter valued at about $2,223,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of AveXis during the first quarter valued at about $1,795,000. Hedge funds and other institutional investors own 54.46% of the company’s stock.
AveXis Inc. (NASDAQ:AVXS) traded up 0.032% during mid-day trading on Friday, reaching $47.055. 150,201 shares of the company were exchanged. AveXis Inc. has a 12 month low of $16.11 and a 12 month high of $50.19. The stock’s market capitalization is $1.08 billion. The company’s 50 day moving average price is $40.54 and its 200-day moving average price is $36.31.
AveXis (NASDAQ:AVXS) last posted its quarterly earnings results on Thursday, August 11th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.09. On average, equities analysts expect that AveXis Inc. will post ($3.30) earnings per share for the current fiscal year.
Several analysts have recently weighed in on AVXS shares. Jefferies Group lifted their target price on shares of AveXis from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday, September 19th. Zacks Investment Research raised shares of AveXis from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Tuesday, August 16th. Wells Fargo & Co. started coverage on shares of AveXis in a report on Friday, July 15th. They issued a “market perform” rating on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $52.00 target price on shares of AveXis in a report on Monday. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $60.00 target price on shares of AveXis in a report on Friday, August 12th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $52.80.
In other AveXis news, insider Paul B. Manning sold 289,855 shares of the stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $9,999,997.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
AveXis Company Profile
AveXis, Inc, formerly Biolife Cell Bank, Inc, is a clinical-stage gene therapy company. The Company operates through developing and commercializing gene therapy treatments for patients suffering from neurological genetic diseases segment. The Company’s product candidate, AVXS-101, is its gene therapy product candidate that is in a Phase I clinical trial for the treatment of spinal muscular atrophy (SMA) Type 1, which is a genetic disorder characterized by motor neuron loss and associated muscle deterioration.
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