Anavex Life Sciences (NASDAQ:AVXL) Stock Price Down 5.8% - Time to Sell?

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) shares traded down 5.8% during mid-day trading on Monday . The company traded as low as $9.02 and last traded at $8.82. 121,570 shares traded hands during trading, a decline of 90% from the average session volume of 1,220,609 shares. The stock had previously closed at $9.36.

Analyst Ratings Changes

AVXL has been the subject of several research reports. HC Wainwright reiterated a "buy" rating and issued a $42.00 price target on shares of Anavex Life Sciences in a research report on Monday, April 7th. D. Boral Capital reaffirmed a "buy" rating and issued a $46.00 target price on shares of Anavex Life Sciences in a report on Monday, April 7th.

Anavex Life Sciences Stock Performance

The stock has a market capitalization of $768.52 million, a PE ratio of -16.40 and a beta of 0.82. The business's 50-day moving average is $8.90 and its two-hundred day moving average is $8.94.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.03. Equities analysts forecast that Anavex Life Sciences Corp. will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Anavex Life Sciences

A number of institutional investors and hedge funds have recently modified their holdings of AVXL. Private Advisor Group LLC grew its holdings in Anavex Life Sciences by 617.5% during the 1st quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company's stock valued at $1,842,000 after buying an additional 184,800 shares during the last quarter. Nwam LLC increased its position in Anavex Life Sciences by 9.6% during the 1st quarter. Nwam LLC now owns 1,000,351 shares of the biotechnology company's stock worth $8,583,000 after purchasing an additional 87,300 shares in the last quarter. Arizona State Retirement System purchased a new position in Anavex Life Sciences in the 1st quarter valued at about $208,000. Bank of New York Mellon Corp boosted its stake in shares of Anavex Life Sciences by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 223,131 shares of the biotechnology company's stock worth $1,914,000 after purchasing an additional 2,882 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Anavex Life Sciences during the first quarter worth about $194,000. Institutional investors and hedge funds own 31.55% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.