Bank of America Corp DE Has $2.14 Million Stake in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Bank of America Corp DE trimmed its stake in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) by 27.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,780 shares of the biotechnology company's stock after selling 76,485 shares during the quarter. Bank of America Corp DE owned approximately 0.23% of Anavex Life Sciences worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVXL. China Universal Asset Management Co. Ltd. increased its position in Anavex Life Sciences by 10.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,980 shares of the biotechnology company's stock valued at $193,000 after purchasing an additional 1,671 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Anavex Life Sciences by 102.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,383 shares of the biotechnology company's stock worth $36,000 after buying an additional 1,708 shares during the period. Opus Capital Group LLC increased its position in shares of Anavex Life Sciences by 6.1% during the fourth quarter. Opus Capital Group LLC now owns 34,700 shares of the biotechnology company's stock worth $373,000 after buying an additional 2,000 shares during the period. Nwam LLC raised its stake in Anavex Life Sciences by 0.3% during the fourth quarter. Nwam LLC now owns 913,051 shares of the biotechnology company's stock worth $9,806,000 after buying an additional 2,575 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Anavex Life Sciences by 5.1% in the fourth quarter. Ameriprise Financial Inc. now owns 66,810 shares of the biotechnology company's stock valued at $718,000 after buying an additional 3,243 shares during the period. 31.55% of the stock is owned by institutional investors and hedge funds.

Anavex Life Sciences Price Performance

Shares of AVXL stock traded up $0.06 on Thursday, reaching $7.78. 338,826 shares of the company were exchanged, compared to its average volume of 1,214,329. The company has a 50-day moving average of $8.44 and a 200-day moving average of $9.08. The company has a market cap of $664.19 million, a price-to-earnings ratio of -14.15 and a beta of 0.82. Anavex Life Sciences Corp. has a one year low of $3.51 and a one year high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.03. During the same period last year, the firm posted ($0.13) earnings per share. As a group, sell-side analysts predict that Anavex Life Sciences Corp. will post -0.69 EPS for the current year.

Analyst Ratings Changes

AVXL has been the topic of a number of recent analyst reports. D. Boral Capital reissued a "buy" rating and issued a $46.00 price objective on shares of Anavex Life Sciences in a research note on Monday, April 7th. HC Wainwright reissued a "buy" rating and issued a $42.00 price target 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.