Anavex Life Sciences (NASDAQ:AVXL) Shares Down 3.6% - Here's Why

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

Analyst Ratings Changes

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

Anavex Life Sciences Stock Performance

The company has a market capitalization of $834.48 million, a PE ratio of -17.87 and a beta of 0.94. The stock's 50 day moving average is $9.13 and its 200 day moving average is $8.12.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.03. On average, equities research analysts forecast that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

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Institutional Trading of Anavex Life Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nwam LLC bought a new position in shares of Anavex Life Sciences in the 3rd quarter worth $5,172,000. Invesco Ltd. increased its holdings in shares of Anavex Life Sciences by 2,419.8% in the 4th 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 last quarter. Pier Capital LLC bought a new position in shares of Anavex Life Sciences in the 4th quarter worth $4,746,000. Essential Planning LLC. bought a new position in shares of Anavex Life Sciences in the 4th quarter worth $4,437,000. Finally, Wellington Management Group LLP bought a new position in shares of Anavex Life Sciences in the 4th quarter worth $1,704,000. 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.