Apella Capital LLC Buys New Stake in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Apella Capital LLC bought a new position in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 98,555 shares of the biotechnology company's stock, valued at approximately $859,000. Apella Capital LLC owned 0.12% of Anavex Life Sciences as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AVXL. Invesco Ltd. raised its holdings in Anavex Life Sciences by 2,419.8% during the 4th quarter. Invesco Ltd. now owns 615,048 shares of the biotechnology company's stock worth $6,606,000 after buying an additional 590,639 shares during the period. Pier Capital LLC purchased a new position in shares of Anavex Life Sciences in the fourth quarter worth approximately $4,746,000. Essential Planning LLC. acquired a new stake in shares of Anavex Life Sciences during the fourth quarter valued at approximately $4,437,000. Wellington Management Group LLP acquired a new position in Anavex Life Sciences in the 4th quarter worth approximately $1,704,000. Finally, Heartland Advisors Inc. acquired a new position in Anavex Life Sciences in the 4th quarter worth approximately $1,674,000. 31.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AVXL. HC Wainwright restated a "buy" rating and issued a $42.00 target price on shares of Anavex Life Sciences in a report on Monday, April 7th. D. Boral Capital reissued 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 Stock Performance

Shares of AVXL stock traded up $0.49 during trading on Friday, hitting $8.27. 1,187,633 shares of the company were exchanged, compared to its average volume of 1,216,617. The business's 50-day simple moving average is $8.42 and its 200 day simple moving average is $9.08. Anavex Life Sciences Corp. has a twelve month low of $3.51 and a twelve month high of $14.44. The firm has a market capitalization of $706.03 million, a price-to-earnings ratio of -15.04 and a beta of 0.82.

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

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.