AveXis, Inc. (NASDAQ:AVXS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “AveXis, Inc. is a gene therapy company which develops and commercializes treatments for neurological genetic diseases primarily in United States. The Company’s product candidate consists of AVXS-101 which is in clinical trial for the treatment of spinal muscular atrophy Type 1, the genetic cause of infant mortality. AveXis, Inc. is headquartered in Bannockburn, Illinois. “

Several other equities research analysts have also weighed in on AVXS. Sanford C. Bernstein started coverage on AveXis in a research report on Thursday, July 27th. They set an “outperform” rating and a $108.00 target price on the stock. Morgan Stanley started coverage on AveXis in a research note on Thursday, August 3rd. They set an “overweight” rating and a $118.00 price target on the stock. BMO Capital Markets restated a “buy” rating and set a $123.00 price target on shares of AveXis in a research note on Friday, August 11th. Chardan Capital restated a “buy” rating and set a $130.00 price target (up previously from $102.50) on shares of AveXis in a research note on Friday, August 11th. Finally, Jefferies Group LLC restated a “buy” rating and set a $108.00 price target (up previously from $92.00) on shares of AveXis in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $107.78.

AveXis (AVXS) traded up 1.48% during midday trading on Monday, reaching $105.35. 224,971 shares of the company were exchanged. AveXis has a 52 week low of $44.68 and a 52 week high of $106.27. The firm’s market capitalization is $3.36 billion. The company has a 50-day moving average of $97.16 and a 200 day moving average of $85.63.

AveXis (NASDAQ:AVXS) last issued its earnings results on Thursday, August 10th. The company reported ($2.07) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($1.10). During the same period last year, the business earned ($0.68) earnings per share. Equities analysts predict that AveXis will post ($6.22) earnings per share for the current year.

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In other AveXis news, VP Sukumar Nagendran sold 1,780 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $93.25, for a total transaction of $165,985.00. Following the completion of the sale, the vice president now owns 1,780 shares of the company’s stock, valued at $165,985. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian K. Kaspar sold 15,000 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $101.46, for a total value of $1,521,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,340 shares of company stock valued at $2,023,896. Company insiders own 18.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Strs Ohio purchased a new stake in AveXis during the third quarter valued at about $116,000. Botty Investors LLC purchased a new stake in AveXis during the second quarter valued at about $123,000. Ameritas Investment Partners Inc. boosted its position in shares of AveXis by 331.0% in the second quarter. Ameritas Investment Partners Inc. now owns 2,112 shares of the company’s stock worth $174,000 after buying an additional 1,622 shares during the period. Deschutes Portfolio Strategy LLC purchased a new stake in shares of AveXis in the third quarter worth about $203,000. Finally, Seven Bridges Advisors LLC boosted its position in shares of AveXis by 49.4% in the second quarter. Seven Bridges Advisors LLC now owns 2,557 shares of the company’s stock worth $210,000 after buying an additional 846 shares during the period. 94.71% of the stock is owned by hedge funds and other institutional investors.

AveXis Company Profile

AveXis, Inc is a clinical-stage gene therapy company. The Company operates through the developing and commercializing gene therapy treatments for patients suffering from neurological genetic diseases segment. The Company’s product candidate, AVXS-101, is its gene therapy product candidate that is in a Phase I clinical trial for the treatment of spinal muscular atrophy (SMA) Type 1, which is a genetic disorder characterized by motor neuron loss and associated muscle deterioration.

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