Short Interest in Anavex Life Sciences Corp. (NASDAQ:AVXL) Declines By 10.3%

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 17,590,000 shares, a drop of 10.3% from the September 15th total of 19,610,000 shares. Based on an average daily trading volume, of 903,000 shares, the short-interest ratio is currently 19.5 days.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. HC Wainwright reaffirmed a "buy" rating and set a $40.00 price objective on shares of Anavex Life Sciences in a report on Thursday, August 1st. EF Hutton Acquisition Co. I raised Anavex Life Sciences to a "strong-buy" rating in a report on Monday, July 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AVXL. Vanguard Group Inc. increased its stake in Anavex Life Sciences by 1.2% in the first quarter. Vanguard Group Inc. now owns 4,414,682 shares of the biotechnology company's stock valued at $22,471,000 after purchasing an additional 54,034 shares during the last quarter. Nwam LLC increased its stake in shares of Anavex Life Sciences by 4.8% during the 1st quarter. Nwam LLC now owns 836,730 shares of the biotechnology company's stock valued at $4,259,000 after acquiring an additional 38,437 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of Anavex Life Sciences by 675.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 804,642 shares of the biotechnology company's stock valued at $4,096,000 after acquiring an additional 700,812 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Anavex Life Sciences by 483.8% during the 2nd quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company's stock worth $1,968,000 after acquiring an additional 386,537 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Anavex Life Sciences by 17.1% in the second quarter. Bank of New York Mellon Corp now owns 280,556 shares of the biotechnology company's stock worth $1,184,000 after acquiring an additional 40,895 shares during the last quarter. 31.55% of the stock is currently owned by institutional investors and hedge funds.

Anavex Life Sciences Price Performance

Anavex Life Sciences stock traded down $0.02 during mid-day trading on Tuesday, reaching $5.39. The company had a trading volume of 379,766 shares, compared to its average volume of 1,165,084. Anavex Life Sciences has a 1 year low of $3.25 and a 1 year high of $10.45. The company has a market capitalization of $456.22 million, a P/E ratio of -10.78 and a beta of 0.61. The stock's 50-day simple moving average is $5.72 and its 200-day simple moving average is $4.94.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. During the same quarter last year, the firm earned ($0.14) EPS. On average, equities analysts forecast that Anavex Life Sciences will post -0.55 EPS for the current fiscal 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.