Choreo LLC Purchases 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 Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 22,622 shares of the biotechnology company's stock, valued at approximately $194,000.

Other hedge funds have also added to or reduced their stakes in the company. Private Advisor Group LLC lifted its stake in Anavex Life Sciences by 617.5% in the first quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company's stock valued at $1,842,000 after buying an additional 184,800 shares during the period. Wellington Management Group LLP acquired a new position in Anavex Life Sciences in the fourth quarter valued at about $1,704,000. Arizona State Retirement System acquired a new stake in shares of Anavex Life Sciences during the first quarter worth about $208,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Anavex Life Sciences by 197.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 248,139 shares of the biotechnology company's stock worth $2,129,000 after purchasing an additional 164,792 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Anavex Life Sciences during the first quarter worth about $194,000. Institutional investors own 31.55% of the company's stock.

Analyst Upgrades and Downgrades

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

Anavex Life Sciences Stock Performance

Anavex Life Sciences stock traded down $0.10 during midday trading on Friday, reaching $11.20. The stock had a trading volume of 866,336 shares, compared to its average volume of 1,162,939. The firm's fifty day simple moving average is $9.72 and its 200-day simple moving average is $9.16. Anavex Life Sciences Corp. has a 1-year low of $4.93 and a 1-year high of $14.44. The stock has a market capitalization of $956.70 million, a P/E ratio of -20.36 and a beta of 0.80.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last announced 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 period last year, the business posted ($0.13) earnings per share. On average, sell-side analysts anticipate that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal year.

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.