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

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report)'s share price 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 were traded during mid-day trading, a decline of 90% from the average session volume of 1,220,609 shares. The stock had previously closed at $9.36.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. D. Boral Capital reiterated a "buy" rating and issued a $46.00 price target on shares of Anavex Life Sciences in a research note on Monday, April 7th. HC Wainwright reiterated a "buy" rating and issued a $42.00 target price on shares of Anavex Life Sciences in a research report on Monday, April 7th.

Anavex Life Sciences Trading Down 3.6 %

The stock's 50-day moving average price is $8.93 and its 200-day moving average price is $9.02. The company has a market capitalization of $704.32 million, a P/E ratio of -15.00 and a beta of 0.82.

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

Institutional Investors Weigh In On Anavex Life Sciences

Several large investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in shares of Anavex Life Sciences by 70.4% during the third quarter. Barclays PLC now owns 155,179 shares of the biotechnology company's stock valued at $882,000 after acquiring an additional 64,101 shares during the period. JPMorgan Chase & Co. boosted its stake in Anavex Life Sciences by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company's stock valued at $242,000 after purchasing an additional 1,191 shares during the period. Watts Gwilliam & Co. LLC bought a new position in Anavex Life Sciences in the 4th quarter worth about $279,000. Fiduciary Alliance LLC acquired a new stake in shares of Anavex Life Sciences in the fourth quarter valued at approximately $119,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Anavex Life Sciences in the fourth quarter valued at approximately $164,000. 31.55% of the stock is owned by institutional investors and hedge funds.

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.