Choreo LLC Buys Shares of 22,622 Anavex Life Sciences Corp. (NASDAQ:AVXL)

Key Points

• Choreo LLC has made a new investment of approximately $194,000 in Anavex Life Sciences Corp. by purchasing 22,622 shares in the first quarter.
• Several institutional investors, including Private Advisor Group LLC and Wellington Management Group LLP, have significantly increased their positions in Anavex Life Sciences recently, indicating growing interest in the stock.
• Anavex Life Sciences has received positive ratings from analysts, with price targets set as high as $46.00, reflecting expectations for future growth in the company's stock value.

Choreo LLC purchased a new stake in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 22,622 shares of the biotechnology company's stock, valued at approximately $194,000.

A number of other hedge funds also recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted 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 acquiring an additional 1,708 shares in the last quarter. SeaCrest Wealth Management LLC increased its stake in shares of Anavex Life Sciences by 15.0% in the 1st quarter. SeaCrest Wealth Management LLC now owns 17,600 shares of the biotechnology company's stock worth $151,000 after purchasing an additional 2,300 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Anavex Life Sciences by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 223,131 shares of the biotechnology company's stock worth $1,914,000 after purchasing an additional 2,882 shares in the last quarter. Vermillion Wealth Management Inc. bought a new position in Anavex Life Sciences in the 4th quarter worth $34,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Anavex Life Sciences by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 66,810 shares of the biotechnology company's stock valued at $718,000 after purchasing an additional 3,243 shares during the last quarter. Hedge funds and other institutional investors own 31.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. HC Wainwright reissued a "buy" rating and set a $42.00 price objective 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 objective on shares of Anavex Life Sciences in a report on Monday.

Anavex Life Sciences Stock Down 4.2%

Anavex Life Sciences stock traded down $0.47 during midday trading on Monday, reaching $10.73. The stock had a trading volume of 432,109 shares, compared to its average volume of 1,137,727. Anavex Life Sciences Corp. has a 52-week low of $4.93 and a 52-week high of $14.44. The firm has a market cap of $916.81 million, a price-to-earnings ratio of -19.60 and a beta of 0.80. The company has a fifty day moving average of $9.72 and a 200 day moving average of $9.14.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last issued its 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 quarter in the previous year, the business earned ($0.13) EPS. Equities research analysts predict that Anavex Life Sciences Corp. will post -0.69 EPS for the current 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.