Anavex Life Sciences (NASDAQ:AVXL) Shares Down 5.8% – Here’s Why

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s stock price was down 5.8% on Monday . The stock traded as low as $8.46 and last traded at $8.73. Approximately 1,229,957 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 1,803,533 shares. The stock had previously closed at $9.27.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AVXL shares. 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 Tuesday, January 28th. HC Wainwright reiterated a “buy” rating and set a $42.00 price objective on shares of Anavex Life Sciences in a research note on Tuesday, January 28th.

Anavex Life Sciences Price Performance

The stock has a 50 day moving average price of $9.98 and a 200-day moving average price of $7.62. The stock has a market capitalization of $758.29 million, a price-to-earnings ratio of -17.19 and a beta of 0.69.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings data on Monday, December 23rd. The biotechnology company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. As a group, research analysts forecast that Anavex Life Sciences Corp. will post -0.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in shares of Anavex Life Sciences by 2.9% in the third quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company’s stock valued at $242,000 after buying an additional 1,191 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Anavex Life Sciences by 10.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,980 shares of the biotechnology company’s stock worth $193,000 after buying an additional 1,671 shares during the period. Foster Victor Wealth Advisors LLC lifted its holdings in Anavex Life Sciences by 5.6% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 37,663 shares of the biotechnology company’s stock worth $405,000 after buying an additional 2,000 shares in the last quarter. Opus Capital Group LLC boosted its position in Anavex Life Sciences by 6.1% in the 4th quarter. Opus Capital Group LLC now owns 34,700 shares of the biotechnology company’s stock valued at $373,000 after buying an additional 2,000 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Anavex Life Sciences by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 2,401 shares in the last quarter. Institutional investors and hedge funds own 31.55% of the company’s stock.

Anavex Life Sciences Company Profile

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.