Anavex Life Sciences (NASDAQ:AVXL) Share Price Down 6.1%


The share price of Anavex Life Sciences Corp. (NASDAQ:AVXL – Get Rating) was down 6.1% in Friday’s session. The stock traded as low as $9.78 and last traded at $9.81. About 18,066 shares changed hands during trading, down 98% from the average daily volume of 912,004 shares. The stock had previously closed at $10.45.

A number of research companies have recently published reports on AVXL. HC Wainwright reworded a “buy” rating and posted a $42.00 price target on Anavex Life Sciences shares in a Wednesday, March 16 research report. StockNews.com kicked off coverage of Anavex Life Sciences in a Thursday, March 31 report. They issued a “sell” rating on the stock. Finally, Berenberg Bank launched coverage on Anavex Life Sciences in a report on Thursday. They issued a “buy” rating and a price target of $40.00 on the stock. One analyst gave the stock a sell rating and four gave the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

The company has a market capitalization of $787.26 million, a price-earnings ratio of -17.84 and a beta of 0.92. The company’s 50-day moving average price is $8.93 and its two-hundred-day moving average price is $11.83.

Anavex Life Sciences (NASDAQ:AVXL – Get Rating) last announced its results on Tuesday, May 10. The biotech company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.02. During the same quarter last year, the company posted ($0.12) EPS. Stock analysts predict that Anavex Life Sciences Corp. will show an EPS of -0.6 for the current year.

Separately, director Athanasios Skarpelos sold 50,000 shares of the company in a transaction dated Wednesday, May 25. The shares were sold at an average price of $9.06, for a total value of $453,000.00. Following the completion of the sale, the administrator now owns 1,306,458 shares of the company, valued at $11,836,509.48. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. 11.00% of the shares are held by insiders of the company.

Hedge funds have recently been buying and selling shares of the company. Apella Capital LLC acquired a new equity stake in Anavex Life Sciences during Q1 worth approximately $124,000. Dana Investment Advisors Inc. bought a new position in Anavex Life Sciences stock during Q1 worth approximately $132,000. Atria Wealth Solutions Inc. bought a new position in Anavex Life Sciences stock during Q1 worth approximately $136,000. Point72 Hong Kong Ltd increased its stake in Anavex Life Sciences shares by 151.6% during the 4th quarter. Point72 Hong Kong Ltd now owns 9,009 shares of the biotech company worth $156,000 after buying 5,428 more shares last quarter. Finally, Liberty One Investment Management LLC increased its stake in Anavex Life Sciences shares by 23.3% during the 1st quarter. Liberty One Investment Management LLC now owns 13,119 shares of the biotech company worth $161,000 after buying 2,479 additional shares last quarter. Institutional investors hold 29.01% of the company’s shares.

Company Profile Anavex Life Sciences (NASDAQ:AVXL)

Anavex Life Sciences Corp., a clinical-stage biopharmaceutical company, engages in the development of drug candidates for the treatment of central nervous system (CNS) diseases. Its lead drug candidate is ANAVEX 2-73, which is in a phase III clinical trial for the treatment of Alzheimer’s disease; Phase III clinical trial to treat pediatric patients with Rett syndrome; phase II clinical trial for the treatment of Parkinson’s disease; and preclinical clinical trials to treat epilepsy, infantile spasms, fragile X syndrome, Angelman syndrome, multiple sclerosis and tuberous sclerosis complex.

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