Geode Capital Management LLC Increases Stake in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Geode Capital Management LLC increased its holdings in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) by 2.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,883,199 shares of the biotechnology company's stock after acquiring an additional 51,946 shares during the period. Geode Capital Management LLC owned about 2.22% of Anavex Life Sciences worth $10,699,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AVXL. Atria Investments Inc bought a new position in Anavex Life Sciences in the third quarter worth approximately $76,000. BNP Paribas Financial Markets raised its position in shares of Anavex Life Sciences by 97.0% in the 3rd 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. China Universal Asset Management Co. Ltd. boosted its position in Anavex Life Sciences by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company's stock valued at $93,000 after purchasing an additional 6,366 shares in the last quarter. Erste Asset Management GmbH purchased a new position in Anavex Life Sciences in the third quarter valued at about $102,000. Finally, Balentine LLC purchased a new stake in shares of Anavex Life Sciences during the third quarter valued at about $115,000. Institutional investors own 31.55% of the company's stock.

Wall Street Analysts Forecast Growth

AVXL has been the subject of several recent analyst reports. HC Wainwright raised their price target on Anavex Life Sciences from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, December 26th. D. Boral Capital reiterated a "buy" rating and set a $46.00 price target on shares of Anavex Life Sciences in a research note on Monday, December 23rd.

Anavex Life Sciences Stock Down 2.7 %

Shares of AVXL stock traded down $0.30 on Wednesday, hitting $10.74. The company had a trading volume of 2,703,316 shares, compared to its average volume of 1,289,191. The company has a 50-day moving average price of $8.50 and a 200-day moving average price of $6.56. The firm has a market cap of $910.92 million, a P/E ratio of -21.48 and a beta of 0.73. Anavex Life Sciences Corp. has a twelve month low of $3.25 and a twelve month high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last announced its quarterly 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. Equities research analysts expect that Anavex Life Sciences Corp. will post -0.55 EPS for the current year.

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.