Anavex Life Sciences Corp. (NASDAQ:AVXL) Sees Large Decrease in Short Interest

Anavex Life Sciences Corp. (NASDAQ:AVXL) was the target of 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 trading volume of 903,000 shares, the days-to-cover ratio is currently 19.5 days.

Anavex Life Sciences Stock Performance

Shares of AVXL opened at $5.61 on Thursday. The business’s 50-day moving average is $5.71 and its two-hundred day moving average is $4.94. The company has a market capitalization of $474.84 million, a P/E ratio of -11.05 and a beta of 0.61. Anavex Life Sciences has a fifty-two week low of $3.25 and a fifty-two week high of $10.45.

Anavex Life Sciences (NASDAQ:AVXL) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. During the same period last year, the business earned ($0.14) EPS. Analysts forecast that Anavex Life Sciences will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Anavex Life Sciences

Several institutional investors have recently made changes to their positions in AVXL. Virtu Financial LLC acquired a new stake in Anavex Life Sciences during the fourth quarter valued at $202,000. Los Angeles Capital Management LLC increased its position in shares of Anavex Life Sciences by 51.4% in the first quarter. Los Angeles Capital Management LLC now owns 87,931 shares of the biotechnology company’s stock valued at $448,000 after buying an additional 29,844 shares in the last quarter. Fiduciary Alliance LLC acquired a new position in shares of Anavex Life Sciences during the 1st quarter worth approximately $67,000. Saxon Interests Inc. acquired a new position in Anavex Life Sciences during the first quarter worth $136,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Anavex Life Sciences by 66.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,773 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 6,275 shares in the last quarter. 31.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on AVXL. EF Hutton Acquisition Co. I raised Anavex Life Sciences to a “strong-buy” rating in a research report on Monday, July 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Anavex Life Sciences in a research report on Thursday, August 1st.

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.