Investment analysts at Credit Suisse Group started coverage on shares of AveXis (NASDAQ:AVXS) in a research report issued to clients and investors on Wednesday. The brokerage set an “outperform” rating and a $134.00 price target on the stock. Credit Suisse Group’s target price indicates a potential upside of 27.61% from the stock’s current price.
AVXS has been the topic of several other research reports. Royal Bank of Canada restated a “hold” rating and set a $92.00 price target on shares of AveXis in a report on Tuesday, January 9th. BMO Capital Markets restated a “buy” rating on shares of AveXis in a report on Monday, January 8th. Zacks Investment Research upgraded AveXis from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Citigroup set a $132.00 price target on AveXis and gave the stock a “buy” rating in a report on Friday, January 5th. Finally, UBS Group set a $122.00 price target on AveXis and gave the stock a “buy” rating in a report on Friday, January 5th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $112.84.
AveXis (NASDAQ AVXS) traded down $12.49 during mid-day trading on Wednesday, hitting $105.01. The company had a trading volume of 1,240,600 shares, compared to its average volume of 552,640. The stock has a market cap of $3,350.00 and a P/E ratio of -18.82. AveXis has a 52-week low of $50.56 and a 52-week high of $119.00.
In related news, VP Sukumar Nagendran sold 1,780 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $101.26, for a total value of $180,242.80. Following the completion of the sale, the vice president now directly owns 1,780 shares of the company’s stock, valued at approximately $180,242.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew F. Knudten sold 2,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $94.48, for a total value of $188,960.00. Following the completion of the sale, the vice president now directly owns 7,000 shares of the company’s stock, valued at $661,360. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,340 shares of company stock valued at $5,318,845. Insiders own 18.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its position in shares of AveXis by 1.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 109,902 shares of the company’s stock valued at $12,163,000 after purchasing an additional 1,389 shares during the period. California Public Employees Retirement System purchased a new stake in AveXis during the 3rd quarter valued at approximately $570,000. Cubist Systematic Strategies LLC raised its stake in AveXis by 688.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock valued at $175,000 after acquiring an additional 1,577 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in AveXis during the 3rd quarter valued at approximately $967,000. Finally, Perceptive Advisors LLC raised its stake in AveXis by 147.5% during the 3rd quarter. Perceptive Advisors LLC now owns 671,181 shares of the company’s stock valued at $64,923,000 after acquiring an additional 400,000 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.
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About AveXis
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.
