Anavex Life Sciences (NASDAQ:AVXL) Trading Down 5.9% - Here's Why

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) shares were down 5.9% during trading on Tuesday . The company traded as low as $10.78 and last traded at $10.81. Approximately 470,991 shares were traded during trading, a decline of 60% from the average daily volume of 1,189,578 shares. The stock had previously closed at $11.48.

Analyst Ratings Changes

A number of analysts recently commented on AVXL shares. HC Wainwright reaffirmed a "buy" rating and set 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 set a $46.00 price target on shares of Anavex Life Sciences in a research report on Monday, April 7th.

Anavex Life Sciences Price Performance

The stock has a fifty day moving average price of $8.98 and a 200 day moving average price of $9.16. The stock has a market capitalization of $937.91 million, a P/E ratio of -19.96 and a beta of 0.72.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last posted its quarterly earnings results 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 period in the prior year, the business earned ($0.13) earnings per share. Research 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

Several large investors have recently added to or reduced their stakes in AVXL. Charles Schwab Investment Management Inc. boosted its stake in Anavex Life Sciences by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 677,215 shares of the biotechnology company's stock valued at $7,273,000 after buying an additional 11,239 shares during the period. Proficio Capital Partners LLC bought a new stake in Anavex Life Sciences during the fourth quarter valued at $210,000. Raymond James Financial Inc. bought a new stake in Anavex Life Sciences during the fourth quarter valued at $167,000. Commonwealth Equity Services LLC boosted its stake in Anavex Life Sciences by 7.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 102,662 shares of the biotechnology company's stock valued at $1,103,000 after buying an additional 7,285 shares during the period. Finally, Intech Investment Management LLC lifted its stake in Anavex Life Sciences by 79.9% during the fourth quarter. Intech Investment Management LLC now owns 42,383 shares of the biotechnology company's stock worth $455,000 after purchasing an additional 18,827 shares during the last quarter. Institutional investors own 31.55% of the company's stock.

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.