Anavex Life Sciences (NASDAQ:AVXL) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.89 and traded as low as $2.56. Anavex Life Sciences shares last traded at $2.59, with a volume of 892,938 shares.

Wall Street Analyst Weigh In

AVXL has been the topic of several recent analyst reports. Rodman & Renshaw assumed coverage on shares of Anavex Life Sciences in a research note on Monday, May 4th. They issued a “buy” rating and a $20.00 target price on the stock. D. Boral Capital reiterated a “buy” rating and set a $24.00 target price on shares of Anavex Life Sciences in a research report on Tuesday, March 31st. Finally, Weiss Ratings cut shares of Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.33.

Anavex Life Sciences Stock Performance

The stock has a 50-day moving average of $2.89 and a 200 day moving average of $3.66. The firm has a market capitalization of $240.02 million, a P/E ratio of -5.63 and a beta of 1.20.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. State of Wyoming acquired a new position in Anavex Life Sciences during the 2nd quarter worth about $26,000. Quarry LP bought a new position in shares of Anavex Life Sciences in the third quarter worth about $36,000. HBW Advisory Services LLC bought a new position in shares of Anavex Life Sciences in the fourth quarter worth about $40,000. BNC Wealth Management LLC lifted its position in shares of Anavex Life Sciences by 19.5% during the fourth quarter. BNC Wealth Management LLC now owns 12,250 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Advisory Alpha LLC acquired a new position in shares of Anavex Life Sciences during the fourth quarter worth approximately $44,000. 31.55% of the stock is owned by institutional investors.

About Anavex Life Sciences

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.