Anavex Life Sciences (NASDAQ:AVXL) Stock Price Down 3.2% – Here’s What Happened

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

Wall Street Analyst Weigh In

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

Anavex Life Sciences Stock Up 0.5 %

The stock has a market cap of $817.21 million, a price-to-earnings ratio of -17.45 and a beta of 0.94. The company’s 50-day simple moving average is $9.07 and its 200-day simple moving average is $8.24.

Anavex Life Sciences (NASDAQ:AVXL) last released its earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03. As a group, analysts expect that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Institutional Trading of Anavex Life Sciences

Several hedge funds and other institutional investors have recently modified their holdings of AVXL. Intech Investment Management LLC acquired a new stake in shares of Anavex Life Sciences in the 3rd quarter valued at $134,000. Charles Schwab Investment Management Inc. lifted its position in shares of Anavex Life Sciences by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 665,976 shares of the biotechnology company’s stock worth $3,783,000 after purchasing an additional 14,892 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Anavex Life Sciences by 97.0% during the third quarter. BNP Paribas Financial Markets now owns 15,074 shares of the biotechnology company’s stock worth $86,000 after buying an additional 7,421 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Anavex Life Sciences during the 3rd quarter valued at $102,000. Finally, Barclays PLC increased its holdings in shares of Anavex Life Sciences by 70.4% during the 3rd quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock worth $882,000 after purchasing an additional 64,101 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.