Anavex Life Sciences (NASDAQ:AVXL) Trading Down 11.3% – Should You Sell?

Anavex Life Sciences Corp. (NASDAQ:AVXL) traded down 11.3% on Wednesday . The stock traded as low as $11.92 and last traded at $11.94. 957,544 shares were traded during mid-day trading, a decline of 58% from the average session volume of 2,266,342 shares. The stock had previously closed at $13.46.

Analysts Set New Price Targets

AVXL has been the subject of several analyst reports. D. Boral Capital reiterated a “buy” rating and issued a $46.00 price objective on shares of Anavex Life Sciences in a research note on Monday, December 23rd. HC Wainwright increased their price objective on shares of Anavex Life Sciences from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 26th.

Anavex Life Sciences Stock Down 1.7 %

The company has a market cap of $952.48 million, a PE ratio of -22.46 and a beta of 0.70. The stock has a 50-day moving average of $9.40 and a 200-day moving average of $6.92.

Anavex Life Sciences (NASDAQ:AVXL) last issued its earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.03. Research analysts expect that Anavex Life Sciences Corp. will post -0.55 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVXL. Orion Capital Management LLC increased its holdings in shares of Anavex Life Sciences by 666.7% in the 3rd quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 10,000 shares in the last quarter. PVG Asset Management Corp bought a new stake in Anavex Life Sciences during the third quarter valued at about $74,000. Atria Investments Inc bought a new stake in Anavex Life Sciences during the third quarter valued at about $76,000. BNP Paribas Financial Markets boosted its stake in shares of Anavex Life Sciences by 97.0% in the third quarter. BNP Paribas Financial Markets now owns 15,074 shares of the biotechnology company’s stock worth $86,000 after acquiring an additional 7,421 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Anavex Life Sciences by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock worth $93,000 after acquiring an additional 6,366 shares during the period. Institutional investors own 31.55% of the company’s stock.

About Anavex Life Sciences

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of therapeutics for the treatment of central nervous system diseases. Its lead product candidate is ANAVEX 2-73 for the treatment of Alzheimer's disease and Parkinson's disease, as well as other central nervous system diseases, including rare diseases, such as Rett syndrome, a rare severe neurological monogenic disorder; and infantile spasms, Fragile X syndrome, and Angelman syndrome.