Anavex Life Sciences Corp. (AVXL) Sees Strong Trading Volume
Anavex Life Sciences Corp. (NASDAQ:AVXL) shares saw unusually-high trading volume on Thursday . Approximately 1,080,968 shares were traded during mid-day trading, an increase of 261% from the previous session’s volume of 299,122 shares.The stock last traded at $4.35 and had previously closed at $4.02.
AVXL has been the subject of several recent research reports. Zacks Investment Research raised Anavex Life Sciences Corp. from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a report on Monday, August 28th. Maxim Group set a $15.00 price target on Anavex Life Sciences Corp. and gave the company a “buy” rating in a report on Monday, August 7th. Finally, ValuEngine cut Anavex Life Sciences Corp. from a “hold” rating to a “sell” rating in a research note on Friday, June 30th.
The firm’s market capitalization is $183.45 million. The stock has a 50 day moving average of $4.27 and a 200-day moving average of $4.27.
Anavex Life Sciences Corp. (NASDAQ:AVXL) last issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.09) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). Equities analysts expect that Anavex Life Sciences Corp. will post ($0.37) EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of AVXL. JPMorgan Chase & Co. acquired a new position in Anavex Life Sciences Corp. in the 1st quarter valued at $105,000. Northwest Investment Counselors LLC acquired a new position in Anavex Life Sciences Corp. in the 2nd quarter valued at $106,000. American International Group Inc. raised its holdings in Anavex Life Sciences Corp. by 7.1% in the 1st quarter. American International Group Inc. now owns 20,103 shares of the biotechnology company’s stock valued at $115,000 after acquiring an additional 1,329 shares during the last quarter. State of Wisconsin Investment Board acquired a new position in Anavex Life Sciences Corp. in the 2nd quarter valued at $151,000. Finally, Alliancebernstein L.P. acquired a new position in Anavex Life Sciences Corp. in the 2nd quarter valued at $158,000. Institutional investors own 24.41% of the company’s stock.
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About Anavex Life Sciences Corp.
Anavex Life Sciences Corp., is a clinical-stage biopharmaceutical company engaged in the development of drug candidates. The Company’s lead compounds include ANAVEX 2-73, ANAVEX PLUS, a combination of ANAVEX 2-73 with donepezil (Aricept), ANAVEX 19-144, ANAVEX 1-41, ANAVEX 7-1037, ANAVEX 3-71, ANAVEX 1079, ANAVEX 1519 and ANAVEX 1066 being developed to treat Alzheimer’s disease and other central nervous system (CNS) diseases.
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