Russell Investments Group Ltd. lowered its position in Anavex Life Sciences Corp. (NASDAQ:AVXL) by 24.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,196 shares of the biotechnology company’s stock after selling 6,290 shares during the period. Russell Investments Group Ltd.’s holdings in Anavex Life Sciences Corp. were worth $110,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Highbridge Capital Management LLC acquired a new position in shares of Anavex Life Sciences Corp. during the fourth quarter worth about $151,000. Edge Wealth Management LLC acquired a new position in shares of Anavex Life Sciences Corp. during the first quarter worth about $230,000. Finally, State Street Corp increased its position in shares of Anavex Life Sciences Corp. by 27.2% in the fourth quarter. State Street Corp now owns 391,065 shares of the biotechnology company’s stock worth $1,549,000 after buying an additional 83,716 shares during the last quarter. 22.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) opened at 5.13 on Tuesday. The stock’s 50 day moving average is $5.75 and its 200 day moving average is $5.34. Anavex Life Sciences Corp. has a 1-year low of $2.43 and a 1-year high of $7.82. The stock’s market capitalization is $212.26 million.
A number of brokerages have recently issued reports on AVXL. Zacks Investment Research raised Anavex Life Sciences Corp. from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research report on Thursday, June 8th. Maxim Group set a $15.00 price target on Anavex Life Sciences Corp. and gave the stock a “buy” rating in a research report on Monday, May 22nd. Noble Financial reaffirmed a “buy” rating on shares of Anavex Life Sciences Corp. in a research report on Sunday, May 14th. Finally, ValuEngine downgraded Anavex Life Sciences Corp. from a “hold” rating to a “sell” rating in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $11.94.
Anavex Life Sciences Corp. Company Profile
Anavex Life Sciences Corp., is a clinical-stage biopharmaceutical company engaged in the development of drug candidates. The Company’s lead compounds include ANAVEX 2-73, ANAVEX PLUS, a combination of ANAVEX 2-73 with donepezil (Aricept), ANAVEX 19-144, ANAVEX 1-41, ANAVEX 7-1037, ANAVEX 3-71, ANAVEX 1079, ANAVEX 1519 and ANAVEX 1066 being developed to treat Alzheimer’s disease and other central nervous system (CNS) diseases.
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