ValuEngine Lowers AveXis (AVXS) to Sell
AveXis (NASDAQ:AVXS) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
AVXS has been the topic of a number of other research reports. Evercore ISI initiated coverage on AveXis in a research report on Wednesday, August 16th. They set an “outperform” rating and a $120.00 target price on the stock. Royal Bank Of Canada restated a “hold” rating and set a $92.00 target price on shares of AveXis in a research report on Thursday, November 2nd. Chardan Capital reiterated a “buy” rating and issued a $130.00 price target (up previously from $102.50) on shares of AveXis in a report on Friday, August 11th. BMO Capital Markets reiterated a “buy” rating and issued a $123.00 price target on shares of AveXis in a report on Friday, August 11th. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $134.00 price target (up previously from $89.00) on shares of AveXis in a report on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $110.67.
AveXis (AVXS) remained flat at $$94.81 on Friday. 263,907 shares of the company’s stock were exchanged, compared to its average volume of 296,786. AveXis has a 52-week low of $44.68 and a 52-week high of $108.27.
In other news, insider Brian K. Kaspar sold 15,000 shares of AveXis stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $101.23, for a total value of $1,518,450.00. Following the transaction, the insider now owns 1,841,019 shares in the company, valued at $186,366,353.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $97.25, for a total value of $173,105.00. Following the completion of the transaction, the vice president now owns 1,780 shares in the company, valued at approximately $173,105. The disclosure for this sale can be found here. Insiders have sold 33,560 shares of company stock worth $3,393,698 in the last 90 days. Company insiders own 18.60% of the company’s stock.
A number of large investors have recently made changes to their positions in AVXS. California Public Employees Retirement System bought a new stake in AveXis during the 3rd quarter valued at approximately $570,000. Cubist Systematic Strategies LLC boosted its position in shares of AveXis by 688.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock worth $175,000 after purchasing an additional 1,577 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of AveXis in the 3rd quarter worth approximately $967,000. Perceptive Advisors LLC boosted its position in shares of AveXis by 147.5% in the 3rd quarter. Perceptive Advisors LLC now owns 671,181 shares of the company’s stock worth $64,923,000 after purchasing an additional 400,000 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of AveXis by 52.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,027,221 shares of the company’s stock worth $99,363,000 after purchasing an additional 352,456 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for AveXis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AveXis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.