Anavex Life Sciences (NASDAQ:AVXL) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.17 and traded as high as $10.93. Anavex Life Sciences shares last traded at $10.76, with a volume of 729,059 shares.

Analyst Upgrades and Downgrades

AVXL has been the subject of several recent analyst reports. D. Boral Capital reaffirmed 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 reissued a "buy" rating and issued a $42.00 price target on shares of Anavex Life Sciences in a report on Monday, April 7th.

Anavex Life Sciences Trading Down 0.6%

The business's fifty day simple moving average is $8.72 and its two-hundred day simple moving average is $9.13. The stock has a market capitalization of $948.46 million, a P/E ratio of -20.20 and a beta of 0.72.

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

Hedge Funds Weigh In On Anavex Life Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC lifted its holdings in shares of Anavex Life Sciences by 11.9% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 19,700 shares of the biotechnology company's stock worth $182,000 after acquiring an additional 2,100 shares during the period. PVG Asset Management Corp lifted its holdings in Anavex Life Sciences by 5.2% during the 1st quarter. PVG Asset Management Corp now owns 82,608 shares of the biotechnology company's stock valued at $709,000 after purchasing an additional 4,118 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Anavex Life Sciences by 10.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,525 shares of the biotechnology company's stock valued at $434,000 after purchasing an additional 4,869 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in Anavex Life Sciences by 70.8% during the 1st quarter. Rafferty Asset Management LLC now owns 127,454 shares of the biotechnology company's stock valued at $1,094,000 after purchasing an additional 52,853 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Anavex Life Sciences by 17.9% during the 1st quarter. Wellington Management Group LLP now owns 187,000 shares of the biotechnology company's stock valued at $1,604,000 after purchasing an additional 28,326 shares during the last quarter. 31.55% of the stock is owned by 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.