Anavex Life Sciences (NASDAQ:AVXL) Trading Down 6.9% – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares fell 6.9% during trading on Tuesday . The company traded as low as $7.98 and last traded at $7.99. 1,244,032 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 1,322,760 shares. The stock had previously closed at $8.58.

Analyst Ratings Changes

AVXL has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $42.00 target price on shares of Anavex Life Sciences in a research report on Monday. D. Boral Capital reissued a “buy” rating and set a $46.00 price objective on shares of Anavex Life Sciences in a report on Wednesday, February 12th.

Anavex Life Sciences Price Performance

The firm’s 50 day simple moving average is $8.89 and its 200-day simple moving average is $8.37. The company has a market cap of $706.03 million, a price-to-earnings ratio of -15.09 and a beta of 0.80.

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

Institutional Trading of Anavex Life Sciences

Several institutional investors and hedge funds have recently bought and sold shares of AVXL. Invesco Ltd. increased its stake in Anavex Life Sciences by 2,419.8% in the fourth quarter. Invesco Ltd. now owns 615,048 shares of the biotechnology company’s stock valued at $6,606,000 after purchasing an additional 590,639 shares during the period. Pier Capital LLC purchased a new position in shares of Anavex Life Sciences during the fourth quarter worth about $4,746,000. Essential Planning LLC. acquired a new position in Anavex Life Sciences in the 4th quarter valued at about $4,437,000. Wellington Management Group LLP acquired a new position in Anavex Life Sciences in the 4th quarter valued at about $1,704,000. Finally, Heartland Advisors Inc. purchased a new stake in Anavex Life Sciences during the 4th quarter valued at approximately $1,674,000. Hedge funds and other institutional investors own 31.55% of the company’s stock.

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.