Price T Rowe Associates Inc. MD Sells 33,912 Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL)

Price T Rowe Associates Inc. MD cut its stake in Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) by 53.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,197 shares of the biotechnology company's stock after selling 33,912 shares during the period. Price T Rowe Associates Inc. MD's holdings in Anavex Life Sciences were worth $314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Anavex Life Sciences by 2.9% during the third quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company's stock worth $242,000 after buying an additional 1,191 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Anavex Life Sciences by 10.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,980 shares of the biotechnology company's stock worth $193,000 after acquiring an additional 1,671 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Anavex Life Sciences by 102.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,383 shares of the biotechnology company's stock worth $36,000 after acquiring an additional 1,708 shares during the last quarter. Foster Victor Wealth Advisors LLC increased its holdings in Anavex Life Sciences by 5.6% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 37,663 shares of the biotechnology company's stock valued at $405,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Opus Capital Group LLC increased its holdings in Anavex Life Sciences by 6.1% during the 4th quarter. Opus Capital Group LLC now owns 34,700 shares of the biotechnology company's stock valued at $373,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 31.55% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on AVXL. D. Boral Capital reissued a "buy" rating and set a $46.00 price objective on shares of Anavex Life Sciences in a report on Monday, April 7th. HC Wainwright restated a "buy" rating and set a $42.00 target price on shares of Anavex Life Sciences in a research report on Monday, April 7th.

Anavex Life Sciences Stock Performance

Shares of NASDAQ:AVXL opened at $7.78 on Thursday. The company has a 50 day moving average price of $8.81 and a two-hundred day moving average price of $9.12. The company has a market capitalization of $664.19 million, a PE ratio of -14.15 and a beta of 0.82. Anavex Life Sciences Corp. has a 52 week low of $3.51 and a 52 week high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. During the same quarter last year, the business posted ($0.13) earnings per share. On average, sell-side analysts forecast that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current year.

Anavex Life Sciences Profile

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.