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

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s stock price fell 3.2% during 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

Several analysts have weighed in on AVXL shares. HC Wainwright reissued a “buy” rating and issued a $42.00 price target on shares of Anavex Life Sciences in a research note on Tuesday, February 18th. D. Boral Capital restated a “buy” rating and set a $46.00 price target on shares of Anavex Life Sciences in a research report on Wednesday, February 12th.

Anavex Life Sciences Stock Performance

The company’s 50-day simple moving average is $9.10 and its two-hundred day simple moving average is $8.18. The firm has a market cap of $814.06 million, a PE ratio of -17.35 and a beta of 0.94.

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

Hedge Funds Weigh In On Anavex Life Sciences

Several hedge funds have recently made changes to their positions in AVXL. Wellington Management Group LLP bought a new stake in Anavex Life Sciences in the fourth quarter valued at $1,704,000. Wealth Enhancement Advisory Services LLC raised its stake in Anavex Life Sciences by 69.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,673 shares of the biotechnology company’s stock worth $286,000 after buying an additional 10,925 shares in the last quarter. PVG Asset Management Corp lifted its holdings in Anavex Life Sciences by 503.5% in the fourth quarter. PVG Asset Management Corp now owns 78,490 shares of the biotechnology company’s stock worth $843,000 after buying an additional 65,485 shares during the period. Vermillion Wealth Management Inc. bought a new stake in Anavex Life Sciences during the 4th quarter valued at approximately $34,000. Finally, Squarepoint Ops LLC grew its holdings in shares of Anavex Life Sciences by 304.9% during the 4th quarter. Squarepoint Ops LLC now owns 67,627 shares of the biotechnology company’s stock worth $726,000 after acquiring an additional 50,924 shares during the period. 31.55% of the stock is 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.