Cornerstone Capital Management Holdings LLC. Takes Position in AveXis Inc (AVXS)
Cornerstone Capital Management Holdings LLC. acquired a new stake in AveXis Inc (NASDAQ:AVXS) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,700 shares of the company’s stock, valued at approximately $1,034,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Nicholas Investment Partners LP bought a new stake in shares of AveXis in the 3rd quarter valued at $3,609,000. Westfield Capital Management Co. LP bought a new position in AveXis during the 3rd quarter worth about $39,563,000. Schwab Charles Investment Management Inc. increased its holdings in AveXis by 25.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 108,513 shares of the company’s stock worth $10,497,000 after purchasing an additional 21,993 shares in the last quarter. Wells Fargo & Company MN increased its holdings in AveXis by 59.6% during the 3rd quarter. Wells Fargo & Company MN now owns 26,170 shares of the company’s stock worth $2,531,000 after purchasing an additional 9,769 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in AveXis by 19.6% during the 3rd quarter. Amalgamated Bank now owns 3,187 shares of the company’s stock worth $308,000 after purchasing an additional 523 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.
In related news, insider Brian K. Kaspar sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $101.46, for a total value of $1,521,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sukumar Nagendran sold 1,780 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $101.26, for a total transaction of $180,242.80. Following the completion of the sale, the vice president now owns 1,780 shares of the company’s stock, valued at $180,242.80. The disclosure for this sale can be found here. Insiders sold a total of 52,340 shares of company stock valued at $5,172,298 in the last 90 days. 18.60% of the stock is owned by corporate insiders.
AVXS has been the subject of a number of research reports. Barclays initiated coverage on AveXis in a report on Wednesday, September 6th. They set an “overweight” rating and a $124.00 target price for the company. Nomura initiated coverage on AveXis in a report on Monday, August 28th. They set a “reduce” rating and a $52.00 target price for the company. Zacks Investment Research upgraded AveXis from a “hold” rating to a “buy” rating and set a $112.00 target price for the company in a report on Tuesday, October 24th. Instinet initiated coverage on AveXis in a report on Tuesday, August 29th. They set a “reduce” rating and a $52.00 target price for the company. Finally, Bank of America lowered their target price on AveXis from $115.00 to $112.00 and set a “buy” rating for the company in a report on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.67.
AveXis Inc (NASDAQ:AVXS) opened at $109.15 on Friday. The firm has a market capitalization of $3,570.00 and a PE ratio of -19.56. AveXis Inc has a 1-year low of $46.41 and a 1-year high of $109.60.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings data on Thursday, November 9th. The company reported ($1.52) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.48) by ($0.04). During the same quarter in the prior year, the company posted ($0.87) earnings per share. equities analysts forecast that AveXis Inc will post -6.19 earnings per share for the current year.
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AveXis Company Profile
AveXis, Inc is a clinical-stage gene therapy company. The Company operates through the developing and commercializing gene therapy treatments for patients suffering from neurological genetic diseases segment. The Company’s product candidate, AVXS-101, is its gene therapy product candidate that is in a Phase I clinical trial for the treatment of spinal muscular atrophy (SMA) Type 1, which is a genetic disorder characterized by motor neuron loss and associated muscle deterioration.
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