Anavex Life Sciences (NASDAQ:AVXL) Shares Down 3.2% – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares were down 3.2% on Monday . The stock traded as low as $9.50 and last traded at $9.43. Approximately 314,741 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,234,599 shares. The stock had previously closed at $9.74.

Wall Street Analysts Forecast Growth

AVXL has been the subject of several research analyst reports. D. Boral Capital restated a “buy” rating and set a $46.00 price target on shares of Anavex Life Sciences in a research note on Wednesday, February 12th. HC Wainwright restated a “buy” rating and issued a $42.00 price target on shares of Anavex Life Sciences in a report on Tuesday, February 18th.

Anavex Life Sciences Trading Up 0.5 %

The business’s 50-day moving average is $9.07 and its two-hundred day moving average is $8.24. The stock has a market capitalization of $817.21 million, a PE ratio of -17.45 and a beta of 0.94.

Anavex Life Sciences (NASDAQ:AVXL) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. On average, analysts predict that Anavex Life Sciences Corp. will post -0.69 EPS for the current year.

Hedge Funds Weigh In On Anavex Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in AVXL. Geode Capital Management LLC lifted its holdings in Anavex Life Sciences by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock worth $10,699,000 after buying an additional 51,946 shares during the last quarter. Nwam LLC lifted its stake in Anavex Life Sciences by 0.3% during the fourth quarter. Nwam LLC now owns 913,051 shares of the biotechnology company’s stock worth $9,806,000 after purchasing an additional 2,575 shares during the last quarter. Northern Trust Corp boosted its holdings in Anavex Life Sciences by 1.6% in the fourth quarter. Northern Trust Corp now owns 706,901 shares of the biotechnology company’s stock worth $7,592,000 after purchasing an additional 10,938 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Anavex Life Sciences by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 677,215 shares of the biotechnology company’s stock valued at $7,273,000 after purchasing an additional 11,239 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Anavex Life Sciences by 2,419.8% during the fourth 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. 31.55% of the stock is currently owned by hedge funds and other institutional investors.

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.