Anavex Life Sciences Corp. (NASDAQ:AVXL – Get Free Report)’s share price passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $2.73 and traded as low as $1.50. Anavex Life Sciences shares last traded at $1.54, with a volume of 1,467,276 shares.
Key Stories Impacting Anavex Life Sciences
Here are the key news stories impacting Anavex Life Sciences this week:
- Neutral Sentiment: Reported short-interest data showed zero shares short and a 0.0-day short-interest ratio as of October 9. This reading conflicts with the description of a “large increase” in short interest and may reflect a data-quality or reporting issue rather than a meaningful change in investor positioning.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Anavex Life Sciences in a research report on Tuesday, September 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.33.
Anavex Life Sciences Stock Performance
The stock has a fifty day simple moving average of $2.71 and a two-hundred day simple moving average of $2.81. The stock has a market cap of $138.12 million, a price-to-earnings ratio of -9.93 and a beta of 1.17.
Anavex Life Sciences (NASDAQ:AVXL – Get Free Report) last posted its quarterly earnings results on Tuesday, August 25th. The biotechnology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.16. Equities analysts expect that Anavex Life Sciences Corp. will post -0.33 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of Anavex Life Sciences by 64.7% in the 1st quarter. Bank of America Corp DE now owns 863,150 shares of the biotechnology company’s stock valued at $2,650,000 after purchasing an additional 338,961 shares in the last quarter. Private Advisor Group LLC lifted its stake in Anavex Life Sciences by 19.0% in the 1st quarter. Private Advisor Group LLC now owns 499,700 shares of the biotechnology company’s stock valued at $1,534,000 after purchasing an additional 79,900 shares during the last quarter. PVG Asset Management Corp boosted its position in Anavex Life Sciences by 51.4% in the first quarter. PVG Asset Management Corp now owns 327,544 shares of the biotechnology company’s stock valued at $1,006,000 after buying an additional 111,249 shares in the last quarter. Renaissance Technologies LLC boosted its position in Anavex Life Sciences by 988.8% in the first quarter. Renaissance Technologies LLC now owns 276,800 shares of the biotechnology company’s stock valued at $850,000 after buying an additional 251,378 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Anavex Life Sciences by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 247,849 shares of the biotechnology company’s stock worth $761,000 after buying an additional 3,794 shares during the last quarter. Institutional investors own 31.55% of the company’s stock.
Anavex Life Sciences Company Profile
Anavex Life Sciences Corp. (NASDAQ: AVXL) is a clinical-stage biotechnology company focused on developing pharmaceutical therapies for central nervous system disorders. The company’s research is centered on small-molecule compounds intended to address cellular pathways associated with neurodegeneration and other neurological conditions.
Anavex’s lead product candidate is blarcamesine (ANAVEX2-73), an orally administered investigational therapy designed to activate the sigma-1 receptor and modulate muscarinic receptors.
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