Anavex Life Sciences (NASDAQ:AVXL) Stock Price Down 11.3% - Time to Sell?

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) shares were down 11.3% on Wednesday . The company traded as low as $11.92 and last traded at $11.94. Approximately 957,544 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 2,266,342 shares. The stock had previously closed at $13.46.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVXL. D. Boral Capital reaffirmed a "buy" rating and set a $46.00 price objective on shares of Anavex Life Sciences in a research note on Monday, December 23rd. HC Wainwright upped their price target on shares of Anavex Life Sciences from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, December 26th.

Anavex Life Sciences Price Performance

The firm has a market cap of $969.45 million, a PE ratio of -22.86 and a beta of 0.70. The business has a fifty day moving average price of $9.30 and a two-hundred day moving average price of $6.89.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last released its earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.03. As a group, sell-side analysts forecast that Anavex Life Sciences Corp. will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC lifted its holdings in shares of Anavex Life Sciences by 666.7% during the 3rd quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company's stock valued at $65,000 after buying an additional 10,000 shares during the last quarter. PVG Asset Management Corp bought a new position in Anavex Life Sciences during the third quarter valued at approximately $74,000. Atria Investments Inc acquired a new stake in Anavex Life Sciences in the third quarter valued at approximately $76,000. BNP Paribas Financial Markets grew its position in Anavex Life Sciences by 97.0% in the third quarter. BNP Paribas Financial Markets now owns 15,074 shares of the biotechnology company's stock worth $86,000 after acquiring an additional 7,421 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Anavex Life Sciences by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company's stock worth $93,000 after purchasing an additional 6,366 shares during the last quarter. Institutional investors and hedge funds own 31.55% of the company's stock.

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.