Anavex Life Sciences (NASDAQ:AVXL) Trading Down 3.2% - Here's Why

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report)'s share price fell 3.2% during trading on Monday . The stock traded as low as $9.50 and last traded at $9.43. 314,741 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,234,599 shares. The stock had previously closed at $9.74.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AVXL shares. HC Wainwright reissued a "buy" rating and issued a $42.00 price target on shares of Anavex Life Sciences in a research note on Tuesday, February 18th. D. Boral Capital reiterated a "buy" rating and set a $46.00 price objective on shares of Anavex Life Sciences in a report on Wednesday, February 12th.

Anavex Life Sciences Trading Down 9.3 %

The company has a market capitalization of $735.89 million, a PE ratio of -15.78 and a beta of 0.94. The company's 50 day moving average price is $9.02 and its 200-day moving average price is $8.25.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.03. As a group, analysts predict that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current year.

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Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Anavex Life Sciences by 2.8% during the third quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company's stock worth $10,699,000 after buying an additional 51,946 shares during the period. Nwam LLC boosted its position in Anavex Life Sciences by 0.3% during the 4th quarter. Nwam LLC now owns 913,051 shares of the biotechnology company's stock worth $9,806,000 after purchasing an additional 2,575 shares during the period. Northern Trust Corp raised its position in Anavex Life Sciences by 1.6% in the fourth quarter. Northern Trust Corp now owns 706,901 shares of the biotechnology company's stock valued at $7,592,000 after purchasing an additional 10,938 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Anavex Life Sciences by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 677,215 shares of the biotechnology company's stock worth $7,273,000 after purchasing an additional 11,239 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Anavex Life Sciences by 2,419.8% in the fourth quarter. Invesco Ltd. now owns 615,048 shares of the biotechnology company's stock worth $6,606,000 after buying an additional 590,639 shares during the period. Hedge funds and other institutional investors own 31.55% of the company's stock.

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.