Anavex Life Sciences (NASDAQ:AVXL) Shares Gap Up to $6.74

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $6.74, but opened at $7.00. Anavex Life Sciences shares last traded at $6.85, with a volume of 457,462 shares.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AVXL. EF Hutton Acquisition Co. I raised Anavex Life Sciences to a “strong-buy” rating in a report on Monday, July 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Anavex Life Sciences in a research note on Tuesday, June 11th.

Anavex Life Sciences Stock Performance

The company has a market cap of $589.94 million, a P/E ratio of -14.78 and a beta of 0.63. The stock’s fifty day moving average price is $4.53 and its two-hundred day moving average price is $4.82.

Anavex Life Sciences (NASDAQ:AVXL) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). During the same period in the prior year, the firm earned ($0.17) EPS. On average, equities research analysts forecast that Anavex Life Sciences Corp. will post -0.55 EPS for the current year.

Institutional Trading of Anavex Life Sciences

Institutional investors and hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. raised its stake in Anavex Life Sciences by 351.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,498 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 7,395 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Anavex Life Sciences during the 4th quarter valued at approximately $93,000. Tower Research Capital LLC TRC increased its position in Anavex Life Sciences by 32.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,637 shares of the biotechnology company’s stock worth $99,000 after purchasing an additional 2,594 shares in the last quarter. Hayek Kallen Investment Management bought a new position in Anavex Life Sciences in the 4th quarter valued at approximately $99,000. Finally, Victory Capital Management Inc. bought a new position in Anavex Life Sciences in the 4th quarter valued at approximately $100,000. 31.55% of the stock is currently 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.