Anavex Life Sciences (NASDAQ:AVXL) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $4.25 and traded as low as $4.15. Anavex Life Sciences shares last traded at $4.36, with a volume of 1,013,057 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVXL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anavex Life Sciences in a research note on Monday, December 29th. Wall Street Zen raised shares of Anavex Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. D. Boral Capital reiterated a “buy” rating and issued a $24.00 price target on shares of Anavex Life Sciences in a research note on Monday, February 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Anavex Life Sciences in a report on Tuesday, February 10th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Anavex Life Sciences has a consensus rating of “Hold” and an average price target of $22.00.

Anavex Life Sciences Stock Performance

The firm has a 50-day moving average price of $4.25 and a two-hundred day moving average price of $6.47. The firm has a market cap of $404.04 million, a price-to-earnings ratio of -9.48 and a beta of 1.21.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings results on Monday, February 9th. The biotechnology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Research analysts anticipate that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Anavex Life Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of AVXL. Delta Asset Management LLC TN grew its holdings in shares of Anavex Life Sciences by 9.1% during the second quarter. Delta Asset Management LLC TN now owns 12,000 shares of the biotechnology company’s stock worth $111,000 after purchasing an additional 1,000 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Anavex Life Sciences by 1.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 85,990 shares of the biotechnology company’s stock valued at $793,000 after purchasing an additional 1,233 shares during the period. Ameritas Investment Partners Inc. grew its stake in Anavex Life Sciences by 22.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,535 shares of the biotechnology company’s stock worth $79,000 after buying an additional 1,559 shares during the last quarter. BNC Wealth Management LLC increased its position in Anavex Life Sciences by 19.5% during the fourth quarter. BNC Wealth Management LLC now owns 12,250 shares of the biotechnology company’s stock worth $44,000 after buying an additional 2,000 shares during the period. Finally, Independent Advisor Alliance increased its position in Anavex Life Sciences by 5.7% during the third quarter. Independent Advisor Alliance now owns 47,799 shares of the biotechnology company’s stock worth $425,000 after buying an additional 2,593 shares during the period. 31.55% of the stock is owned by hedge funds and other institutional investors.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp is a clinical?stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma?1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2?73), is a small?molecule activator of the sigma?1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.