Anavex Life Sciences (NASDAQ:AVXL) Shares Down 3.2% – Here’s Why

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. D. Boral Capital reiterated a “buy” rating and set a $46.00 price target on shares of Anavex Life Sciences in a research report on Wednesday, February 12th. HC Wainwright reaffirmed a “buy” rating and set a $42.00 target price on shares of Anavex Life Sciences in a report on Tuesday, February 18th.

Anavex Life Sciences Stock Down 1.7 %

The firm has a market capitalization of $814.06 million, a PE ratio of -17.35 and a beta of 0.94. The company has a 50-day moving average of $9.10 and a 200 day moving average of $8.18.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings data 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, equities analysts anticipate that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Institutional Trading of Anavex Life Sciences

Hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its stake in Anavex Life Sciences by 70.4% in the third quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock valued at $882,000 after acquiring an additional 64,101 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Anavex Life Sciences during the 4th quarter valued at about $243,000. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $3,783,000 after buying an additional 14,892 shares in the last quarter. Franklin Resources Inc. lifted its position in Anavex Life Sciences by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock worth $317,000 after buying an additional 3,674 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Anavex Life Sciences in the fourth quarter worth approximately $210,000. 31.55% of the stock is owned by institutional investors.

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.