Anavex Life Sciences (NASDAQ:AVXL) Stock Price Down 3.6% – Here’s What Happened

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) fell 3.6% on Monday . The stock traded as low as $9.03 and last traded at $9.09. 326,039 shares were traded during mid-day trading, a decline of 74% from the average session volume of 1,236,520 shares. The stock had previously closed at $9.43.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. D. Boral Capital reiterated a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a research report on Wednesday, February 12th. HC Wainwright reiterated a “buy” rating and set a $42.00 target price on shares of Anavex Life Sciences in a research report on Tuesday, February 18th.

Anavex Life Sciences Price Performance

The company has a market capitalization of $792.80 million, a P/E ratio of -16.94 and a beta of 0.94. The business has a 50-day moving average of $9.36 and a 200-day moving average of $8.05.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. Sell-side analysts predict that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Institutional Trading of Anavex Life Sciences

A number of institutional investors have recently bought and sold shares of AVXL. PVG Asset Management Corp increased its stake in Anavex Life Sciences by 503.5% in the fourth quarter. PVG Asset Management Corp now owns 78,490 shares of the biotechnology company’s stock worth $843,000 after purchasing an additional 65,485 shares during the period. Vermillion Wealth Management Inc. purchased a new stake in Anavex Life Sciences in the fourth quarter worth $34,000. Squarepoint Ops LLC increased its stake in Anavex Life Sciences by 304.9% in the fourth quarter. Squarepoint Ops LLC now owns 67,627 shares of the biotechnology company’s stock worth $726,000 after purchasing an additional 50,924 shares during the period. ProShare Advisors LLC increased its stake in Anavex Life Sciences by 31.0% in the fourth quarter. ProShare Advisors LLC now owns 25,147 shares of the biotechnology company’s stock worth $270,000 after purchasing an additional 5,958 shares during the period. Finally, Deutsche Bank AG increased its stake in Anavex Life Sciences by 63.3% in the fourth quarter. Deutsche Bank AG now owns 64,544 shares of the biotechnology company’s stock worth $693,000 after purchasing an additional 25,024 shares during the period. 31.55% of the stock is currently owned by institutional investors.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of therapeutics for the treatment of central nervous system diseases. Its lead product candidate is ANAVEX 2-73 for the treatment of Alzheimer's disease and Parkinson's disease, as well as other central nervous system diseases, including rare diseases, such as Rett syndrome, a rare severe neurological monogenic disorder; and infantile spasms, Fragile X syndrome, and Angelman syndrome.