Anavex Life Sciences Corp. (AVXL) Sees Strong Trading Volume
Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) saw an uptick in trading volume on Tuesday . 636,746 shares were traded during mid-day trading, an increase of 14% from the previous session’s volume of 556,304 shares.The stock last traded at $2.64 and had previously closed at $2.60.
Several research firms have weighed in on AVXL. FBR & Co reissued an “outperform” rating and issued a $10.00 price target on shares of Anavex Life Sciences Corp. in a research note on Monday, August 15th. Maxim Group set a $15.00 price target on shares of Anavex Life Sciences Corp. and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Finally, Zacks Investment Research downgraded shares of Anavex Life Sciences Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th.
The stock’s 50-day moving average price is $3.10 and its 200-day moving average price is $4.64. The stock’s market cap is $94.27 million.
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Anavex Life Sciences Corp. (NASDAQ:AVXL) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.03. On average, equities analysts expect that Anavex Life Sciences Corp. will post ($0.34) EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. purchased a new stake in shares of Anavex Life Sciences Corp. during the first quarter worth about $274,000. Geode Capital Management LLC boosted its position in Anavex Life Sciences Corp. by 47.2% in the first quarter. Geode Capital Management LLC now owns 179,549 shares of the company’s stock valued at $879,000 after buying an additional 57,572 shares during the last quarter. Squarepoint Ops LLC bought a new position in Anavex Life Sciences Corp. during the first quarter valued at $107,000. Bank of New York Mellon Corp boosted its position in Anavex Life Sciences Corp. by 136.8% in the second quarter. Bank of New York Mellon Corp now owns 129,276 shares of the company’s stock valued at $790,000 after buying an additional 74,682 shares during the last quarter. Finally, California State Teachers Retirement System bought a new position in Anavex Life Sciences Corp. during the second quarter valued at $418,000. 10.72% of the stock is owned by hedge funds and other institutional investors.
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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