Anavex Life Sciences (NASDAQ:AVXL) Stock Price Down 3.6% – Here’s What Happened

Anavex Life Sciences Corp. (NASDAQ:AVXLGet Free Report)’s share price traded down 3.6% during mid-day trading on Monday . The company traded as low as $9.03 and last traded at $9.09. 326,039 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 1,236,520 shares. The stock had previously closed at $9.43.

Analysts Set New Price Targets

A number of brokerages have weighed in on AVXL. D. Boral Capital reissued a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research report on Wednesday, February 12th. HC Wainwright reissued a “buy” rating and issued a $42.00 target price on shares of Anavex Life Sciences in a research report on Tuesday, February 18th.

View Our Latest Research Report on AVXL

Anavex Life Sciences Stock Performance

The stock has a market cap of $792.80 million, a PE ratio of -16.94 and a beta of 0.94. The company’s 50-day moving average price is $9.36 and its 200 day moving average price is $8.05.

Anavex Life Sciences (NASDAQ:AVXLGet Free Report) last released its earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.03. On average, sell-side analysts anticipate that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Anavex Life Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVXL. Nwam LLC purchased a new stake in Anavex Life Sciences in the 3rd quarter worth approximately $5,172,000. Invesco Ltd. boosted its stake in Anavex Life Sciences by 2,419.8% in the 4th quarter. Invesco Ltd. now owns 615,048 shares of the biotechnology company’s stock worth $6,606,000 after purchasing an additional 590,639 shares during the period. Pier Capital LLC bought a new position in Anavex Life Sciences in the 4th quarter worth approximately $4,746,000. Essential Planning LLC. bought a new position in Anavex Life Sciences in the 4th quarter worth approximately $4,437,000. Finally, Wellington Management Group LLP bought a new position in Anavex Life Sciences in the 4th quarter worth approximately $1,704,000. 31.55% of the stock is owned by hedge funds and other institutional investors.

Anavex Life Sciences Company Profile

(Get Free Report)

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.

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