Anavex Life Sciences Corp. (NASDAQ:AVXL) Sees Significant Decline in Short Interest

Anavex Life Sciences Corp. (NASDAQ:AVXL) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 17,590,000 shares, a decrease of 10.3% from the September 15th total of 19,610,000 shares. Based on an average daily volume of 903,000 shares, the short-interest ratio is presently 19.5 days.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AVXL. EF Hutton Acquisition Co. I upgraded shares of Anavex Life Sciences to a “strong-buy” rating in a report on Monday, July 22nd. HC Wainwright restated a “buy” rating and issued a $40.00 price objective on shares of Anavex Life Sciences in a research note on Thursday, August 1st.

Institutional Investors Weigh In On Anavex Life Sciences

Several hedge funds have recently made changes to their positions in the business. Creative Planning increased its position in Anavex Life Sciences by 54.2% in the 3rd quarter. Creative Planning now owns 39,871 shares of the biotechnology company’s stock valued at $226,000 after acquiring an additional 14,010 shares during the period. SG Americas Securities LLC raised its stake in shares of Anavex Life Sciences by 106.2% during the third quarter. SG Americas Securities LLC now owns 27,706 shares of the biotechnology company’s stock worth $157,000 after purchasing an additional 14,272 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Anavex Life Sciences by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock worth $129,000 after purchasing an additional 2,401 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in Anavex Life Sciences in the 2nd quarter valued at $346,000. Finally, AQR Capital Management LLC raised its position in Anavex Life Sciences by 145.8% during the 2nd quarter. AQR Capital Management LLC now owns 45,219 shares of the biotechnology company’s stock worth $191,000 after buying an additional 26,821 shares during the last quarter. Institutional investors and hedge funds own 31.55% of the company’s stock.

Anavex Life Sciences Stock Up 1.4 %

AVXL opened at $5.61 on Thursday. The firm has a market cap of $474.84 million, a price-to-earnings ratio of -11.05 and a beta of 0.61. Anavex Life Sciences has a 52 week low of $3.25 and a 52 week high of $10.45. The business’s 50 day moving average is $5.71 and its two-hundred day moving average is $4.94.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. During the same quarter in the previous year, the company posted ($0.14) earnings per share. Equities analysts expect that Anavex Life Sciences will post -0.55 EPS for the current fiscal year.

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.