Anavex Life Sciences (NASDAQ:AVXL) Shares Down 5.2% – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL) was down 5.2% during trading on Tuesday . The stock traded as low as $8.80 and last traded at $8.84. Approximately 304,996 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 1,204,857 shares. The stock had previously closed at $9.32.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AVXL shares. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of Anavex Life Sciences in a research report on Wednesday, November 27th. D. Boral Capital reissued a “buy” rating and issued a $46.00 price objective on shares of Anavex Life Sciences in a research note on Monday, November 25th.

Anavex Life Sciences Trading Down 3.4 %

The company has a market cap of $763.20 million, a P/E ratio of -18.14 and a beta of 0.73. The firm has a 50 day moving average of $6.82 and a 200-day moving average of $5.76.

Institutional Investors Weigh In On Anavex Life Sciences

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Anavex Life Sciences by 1.2% in the first quarter. Vanguard Group Inc. now owns 4,414,682 shares of the biotechnology company’s stock worth $22,471,000 after purchasing an additional 54,034 shares during the last quarter. Virtu Financial LLC grew its stake in shares of Anavex Life Sciences by 87.5% in the 1st quarter. Virtu Financial LLC now owns 40,612 shares of the biotechnology company’s stock worth $207,000 after buying an additional 18,954 shares in the last quarter. Fiduciary Alliance LLC raised its position in shares of Anavex Life Sciences by 45.2% during the 2nd quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 6,000 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Anavex Life Sciences in the 2nd quarter valued at about $57,000. Finally, Bank of New York Mellon Corp grew its position in Anavex Life Sciences by 17.1% in the second quarter. Bank of New York Mellon Corp now owns 280,556 shares of the biotechnology company’s stock worth $1,184,000 after acquiring an additional 40,895 shares in the last quarter. 31.55% of the stock is owned by institutional investors.

About Anavex Life Sciences

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.