Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) traded down 6.8% during mid-day trading on Wednesday . The stock traded as low as $2.46 and last traded at $2.46, with a volume of 335,886 shares trading hands. The stock had previously closed at $2.64.

Several analysts have recently issued reports on the company. Maxim Group reiterated a “buy” rating on shares of Anavex Life Sciences Corp. in a research note on Monday, June 6th. FBR & Co reiterated an “outperform” rating and issued a $10.00 price objective on shares of Anavex Life Sciences Corp. in a research note on Tuesday, July 26th. Finally, Zacks Investment Research cut Anavex Life Sciences Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th.

The firm’s 50 day moving average price is $3.07 and its 200-day moving average price is $4.63. The firm’s market cap is $93.20 million.

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Anavex Life Sciences Corp. (NASDAQ:AVXL) last issued its quarterly earnings results on Thursday, August 11th. The company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.03. On average, equities analysts predict that Anavex Life Sciences Corp. will post ($0.34) EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of 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 period. Squarepoint Ops LLC bought a new stake in shares of Anavex Life Sciences Corp. during the first quarter valued at about $107,000. State Street Corp boosted its stake in shares of Anavex Life Sciences Corp. by 349.4% in the second quarter. State Street Corp now owns 88,972 shares of the company’s stock valued at $544,000 after buying an additional 69,172 shares in the last quarter. Rhumbline Advisers bought a new stake in shares of Anavex Life Sciences Corp. during the second quarter valued at about $192,000. Finally, Teachers Advisors Inc. bought a new stake in shares of Anavex Life Sciences Corp. during the second quarter valued at about $314,000. Institutional investors own 10.72% of the company’s stock.

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.

5 Day Chart for NASDAQ:AVXL

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