Anavex Life Sciences (NASDAQ:AVXL) Stock Price Down 6.9% - Time to Sell?

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) traded down 6.9% on Tuesday . The company traded as low as $7.98 and last traded at $7.99. 1,244,032 shares traded hands during trading, a decline of 6% from the average session volume of 1,322,760 shares. The stock had previously closed at $8.58.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AVXL shares. D. Boral Capital reissued a "buy" rating and issued a $46.00 target price on shares of Anavex Life Sciences in a report on Wednesday, February 12th. HC Wainwright reiterated a "buy" rating and set a $42.00 price objective on shares of Anavex Life Sciences in a research note on Monday, March 31st.

Anavex Life Sciences Price Performance

The company's 50 day simple moving average is $8.84 and its two-hundred day simple moving average is $8.41. The stock has a market capitalization of $696.67 million, a P/E ratio of -14.89 and a beta of 0.80.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 51,946 shares in the last quarter. Nwam LLC raised its position in Anavex Life Sciences by 0.3% in 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 last quarter. Northern Trust Corp raised its position in Anavex Life Sciences by 1.6% in the 4th quarter. Northern Trust Corp now owns 706,901 shares of the biotechnology company's stock worth $7,592,000 after purchasing an additional 10,938 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Anavex Life Sciences by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,215 shares of the biotechnology company's stock worth $7,273,000 after buying an additional 11,239 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Anavex Life Sciences by 2,419.8% in the 4th quarter. Invesco Ltd. now owns 615,048 shares of the biotechnology company's stock valued at $6,606,000 after buying an additional 590,639 shares during the last quarter. 31.55% of the stock is owned by institutional investors.

About Anavex Life Sciences

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.