Cambridge Investment Research Advisors Inc. Has $2.13 Million Position in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) by 197.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 248,139 shares of the biotechnology company's stock after buying an additional 164,792 shares during the period. Cambridge Investment Research Advisors Inc. owned approximately 0.29% of Anavex Life Sciences worth $2,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AVXL. Vermillion Wealth Management Inc. acquired a new stake in Anavex Life Sciences in the fourth quarter worth approximately $34,000. Tower Research Capital LLC TRC lifted its position in Anavex Life Sciences by 102.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,383 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 1,708 shares during the period. Prudential Financial Inc. acquired a new stake in Anavex Life Sciences in the fourth quarter worth approximately $109,000. AlphaQuest LLC acquired a new stake in Anavex Life Sciences in the fourth quarter worth approximately $146,000. Finally, Cetera Investment Advisers acquired a new stake in Anavex Life Sciences in the fourth quarter worth approximately $150,000. 31.55% of the stock is currently owned by institutional investors and hedge funds.

Anavex Life Sciences Stock Performance

Shares of NASDAQ AVXL traded up $0.15 during trading on Friday, hitting $10.72. The company had a trading volume of 800,367 shares, compared to its average volume of 1,191,997. The company has a market cap of $915.17 million, a P/E ratio of -19.49 and a beta of 0.72. Anavex Life Sciences Corp. has a 52 week low of $4.24 and a 52 week high of $14.44. The business's 50-day moving average is $8.60 and its 200 day moving average is $9.13.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. During the same period in the prior year, the firm posted ($0.13) earnings per share. On average, research analysts expect that Anavex Life Sciences Corp. will post -0.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AVXL shares. HC Wainwright restated a "buy" rating and issued a $42.00 target price on shares of Anavex Life Sciences in a research report on Monday, April 7th. D. Boral Capital reaffirmed a "buy" rating and issued a $46.00 price target on shares of Anavex Life Sciences in a report on Monday, April 7th.

Anavex Life Sciences 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.