PVG Asset Management Corp Purchases 65,485 Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL)

PVG Asset Management Corp increased its position in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) by 503.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,490 shares of the biotechnology company's stock after purchasing an additional 65,485 shares during the quarter. Anavex Life Sciences makes up approximately 4.0% of PVG Asset Management Corp's investment portfolio, making the stock its 5th largest position. PVG Asset Management Corp owned about 0.09% of Anavex Life Sciences worth $843,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. purchased a new position in shares of Anavex Life Sciences in the 4th quarter valued at about $34,000. Tower Research Capital LLC TRC raised its position 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 valued at $36,000 after purchasing an additional 1,708 shares during the last quarter. Berkshire Money Management Inc. purchased a new position in shares of Anavex Life Sciences during the fourth quarter worth about $107,000. Prudential Financial Inc. acquired a new position in shares of Anavex Life Sciences in the fourth quarter valued at approximately $109,000. Finally, D.A. Davidson & CO. purchased a new position in Anavex Life Sciences during the 4th quarter worth $122,000. Hedge funds and other institutional investors own 31.55% of the company's stock.

Anavex Life Sciences Price Performance

NASDAQ:AVXL traded down $0.24 during trading hours on Friday, reaching $7.39. The company's stock had a trading volume of 386,490 shares, compared to its average volume of 1,222,436. Anavex Life Sciences Corp. has a one year low of $3.51 and a one year high of $14.44. The business's 50-day moving average is $8.57 and its 200-day moving average is $9.09. The company has a market cap of $630.90 million, a price-to-earnings ratio of -13.45 and a beta of 0.82.

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

Wall Street Analysts Forecast Growth

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

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.