Anavex Life Sciences (NASDAQ:AVXL) Shares Down 4.2% - Should You Sell?

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) fell 4.2% on Wednesday . The stock traded as low as $9.20 and last traded at $9.16. 86,461 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,180,155 shares. The stock had previously closed at $9.56.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. D. Boral Capital restated a "buy" rating and set a $46.00 price target on shares of Anavex Life Sciences in a research report on Monday, April 7th. HC Wainwright reiterated 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 Price Performance

The stock has a market capitalization of $786.77 million, a PE ratio of -16.76 and a beta of 0.68. The firm's 50 day simple moving average is $8.48 and its 200 day simple moving average is $9.06.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.03. During the same period in the prior year, the firm earned ($0.13) EPS. Analysts expect that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AVXL. Tower Research Capital LLC TRC lifted its holdings in Anavex Life Sciences by 102.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,383 shares of the biotechnology company's stock worth $36,000 after buying an additional 1,708 shares during the period. SeaCrest Wealth Management LLC increased its position in Anavex Life Sciences by 15.0% during the 1st quarter. SeaCrest Wealth Management LLC now owns 17,600 shares of the biotechnology company's stock valued at $151,000 after buying an additional 2,300 shares in the last quarter. Nwam LLC raised its stake in Anavex Life Sciences by 0.3% during the fourth quarter. Nwam LLC now owns 913,051 shares of the biotechnology company's stock valued at $9,806,000 after buying an additional 2,575 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Anavex Life Sciences by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 223,131 shares of the biotechnology company's stock worth $1,914,000 after acquiring an additional 2,882 shares in the last quarter. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Anavex Life Sciences in the fourth quarter worth $34,000. 31.55% of the stock is owned by hedge funds and other institutional investors.

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.

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