Anavex Life Sciences (NASDAQ:AVXL) Trading Down 3.6% – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s share price dropped 3.6% on Monday . The stock traded as low as $9.03 and last traded at $9.09. Approximately 326,039 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 1,236,520 shares. The stock had previously closed at $9.43.

Analyst Ratings Changes

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

Anavex Life Sciences Price Performance

The company’s 50 day simple moving average is $9.20 and its 200 day simple moving average is $8.09. The firm has a market cap of $791.95 million, a price-to-earnings ratio of -16.93 and a beta of 0.94.

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

Hedge Funds Weigh In On Anavex Life Sciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Anavex Life Sciences by 2.8% during the third quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock worth $10,699,000 after purchasing an additional 51,946 shares in the last quarter. Nwam LLC grew its stake in shares of Anavex Life Sciences by 0.3% during the fourth quarter. Nwam LLC now owns 913,051 shares of the biotechnology company’s stock worth $9,806,000 after purchasing an additional 2,575 shares in the last quarter. Northern Trust Corp grew its stake in shares of Anavex Life Sciences by 1.6% during the fourth quarter. Northern Trust Corp now owns 706,901 shares of the biotechnology company’s stock worth $7,592,000 after purchasing an additional 10,938 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Anavex Life Sciences by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 677,215 shares of the biotechnology company’s stock worth $7,273,000 after purchasing an additional 11,239 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Anavex Life Sciences by 2,419.8% during the fourth quarter. Invesco Ltd. now owns 615,048 shares of the biotechnology company’s stock worth $6,606,000 after purchasing an additional 590,639 shares in the last quarter. Institutional investors and hedge funds own 31.55% of the company’s stock.

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.