Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) dropped 3.7% during mid-day trading on Thursday . The company traded as low as $11.55 and last traded at $11.55. Approximately 4,513 shares were traded during trading, a decline of 100% from the average daily volume of 3,571,098 shares. The stock had previously closed at $12.00.
AVXL has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, February 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 price objective (up previously from $10.00) on shares of Anavex Life Sciences in a research report on Monday, March 1st. Finally, LADENBURG THALM/SH SH reissued a “buy” rating and set a $20.00 price objective on shares of Anavex Life Sciences in a research report on Wednesday, February 17th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Anavex Life Sciences presently has a consensus rating of “Buy” and an average target price of $15.71.
The company has a market cap of $849.48 million, a price-to-earnings ratio of -26.67 and a beta of 0.70. The stock’s fifty day moving average is $13.92 and its two-hundred day moving average is $8.58.
In other Anavex Life Sciences news, Director Elliot Favus sold 145,500 shares of the business’s stock in a transaction dated Wednesday, February 24th. The shares were sold at an average price of $12.66, for a total value of $1,842,030.00. Following the transaction, the director now owns 45,000 shares in the company, valued at $569,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its holdings in shares of Anavex Life Sciences by 68.5% during the fourth quarter. GSA Capital Partners LLP now owns 49,678 shares of the biotechnology company’s stock valued at $268,000 after purchasing an additional 20,194 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Anavex Life Sciences by 12.9% during the fourth quarter. New York State Common Retirement Fund now owns 31,400 shares of the biotechnology company’s stock valued at $170,000 after buying an additional 3,600 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Anavex Life Sciences during the fourth quarter valued at approximately $62,000. Vontobel Holding Ltd. purchased a new stake in Anavex Life Sciences during the fourth quarter valued at approximately $324,000. Finally, BlackRock Inc. increased its holdings in Anavex Life Sciences by 4.5% during the fourth quarter. BlackRock Inc. now owns 3,678,763 shares of the biotechnology company’s stock valued at $19,866,000 after buying an additional 159,918 shares during the last quarter. 18.92% of the stock is owned by hedge funds and other institutional investors.
About Anavex Life Sciences (NASDAQ:AVXL)
Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. Its lead compound, ANAVEX2-73, is being developed to treat Alzheimer’s and Parkinson’s disease and central nervous system diseases, including Rett syndrome.
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