Anavex Life Sciences (NASDAQ:AVXL) Shares Down 4.5% - Time to Sell?

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report)'s stock price traded down 4.5% on Monday . The stock traded as low as $7.88 and last traded at $7.90. 649,670 shares changed hands during trading, a decline of 47% from the average session volume of 1,218,322 shares. The stock had previously closed at $8.27.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. D. Boral Capital restated a "buy" rating and set a $46.00 price objective on shares of Anavex Life Sciences in a research note on Monday, April 7th. HC Wainwright restated a "buy" rating and set a $42.00 price objective on shares of Anavex Life Sciences in a research note on Monday, April 7th.

Anavex Life Sciences Stock Performance

The firm has a market capitalization of $701.76 million, a P/E ratio of -14.95 and a beta of 0.68. The firm has a 50 day simple moving average of $8.41 and a two-hundred day simple moving average of $9.06.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last announced its 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 period in the previous year, the business earned ($0.13) EPS. Sell-side analysts anticipate that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Anavex Life Sciences

Large investors have recently made changes to their positions in the business. Vermillion Wealth Management Inc. purchased a new stake in shares of Anavex Life Sciences during the 4th quarter valued at $34,000. Tower Research Capital LLC TRC increased its holdings in Anavex Life Sciences by 102.0% in 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. E Fund Management Co. Ltd. purchased a new stake in Anavex Life Sciences in the 1st quarter worth about $102,000. Prudential Financial Inc. purchased a new stake in Anavex Life Sciences in the 4th quarter worth about $109,000. Finally, 180 Wealth Advisors LLC purchased a new stake in Anavex Life Sciences in the 1st quarter worth about $121,000. 31.55% of the stock is owned by hedge funds and other institutional investors.

Anavex Life Sciences Company 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.