Anavex Life Sciences (NASDAQ:AVXL) Trading 5.6% Higher - Here's What Happened

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) was up 5.6% during trading on Monday . The company traded as high as $8.27 and last traded at $8.36. Approximately 155,909 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,422,428 shares. The stock had previously closed at $7.91.

Wall Street Analyst Weigh In

AVXL has been the subject of several recent research reports. HC Wainwright reiterated a "buy" rating and set a $42.00 target price on shares of Anavex Life Sciences in a research note on Tuesday, February 18th. 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.

Anavex Life Sciences Price Performance

The firm has a market capitalization of $700.08 million, a price-to-earnings ratio of -14.97 and a beta of 0.69. The business's 50 day moving average price is $9.89 and its 200-day moving average price is $7.86.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last issued its 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. As a group, analysts expect that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Anavex Life Sciences

Several institutional investors have recently made changes to their positions in AVXL. JPMorgan Chase & Co. lifted its stake in shares of Anavex Life Sciences by 2.9% in the third quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company's stock valued at $242,000 after purchasing an additional 1,191 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in Anavex Life Sciences by 10.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,980 shares of the biotechnology company's stock valued at $193,000 after buying an additional 1,671 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Anavex Life Sciences by 102.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,383 shares of the biotechnology company's stock valued at $36,000 after acquiring an additional 1,708 shares during the period. Foster Victor Wealth Advisors LLC boosted its stake in shares of Anavex Life Sciences by 5.6% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 37,663 shares of the biotechnology company's stock worth $405,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Opus Capital Group LLC grew its holdings in shares of Anavex Life Sciences by 6.1% in the 4th quarter. Opus Capital Group LLC now owns 34,700 shares of the biotechnology company's stock worth $373,000 after acquiring an additional 2,000 shares during the period. 31.55% of the stock is currently owned by hedge funds and other 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.

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