Invesco Ltd. Decreases Holdings in Anavex Life Sciences Corp. $AVXL

Key Points

• Invesco Ltd. has reduced its stake in Anavex Life Sciences by 9.9%, selling 60,694 shares and holding about 554,354 shares valued at approximately $4.76 million.
• During the first quarter, several hedge funds significantly increased their positions in Anavex Life Sciences, with Private Advisor Group LLC boosting its holdings by 617.5%.
• Anavex Life Sciences reported an EPS of ($0.16) for the last quarter, missing the consensus estimate, and its shares are currently rated predominantly as buy by analysts.

Invesco Ltd. lessened its holdings in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) by 9.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 554,354 shares of the biotechnology company's stock after selling 60,694 shares during the period. Invesco Ltd. owned about 0.65% of Anavex Life Sciences worth $4,756,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AVXL. LPL Financial LLC increased its holdings in Anavex Life Sciences by 482.1% during the 1st quarter. LPL Financial LLC now owns 546,626 shares of the biotechnology company's stock valued at $4,690,000 after purchasing an additional 452,723 shares during the period. Vanguard Group Inc. increased its holdings in Anavex Life Sciences by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 4,902,246 shares of the biotechnology company's stock valued at $42,061,000 after purchasing an additional 221,802 shares during the period. Private Advisor Group LLC increased its holdings in Anavex Life Sciences by 617.5% during the 1st quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company's stock valued at $1,842,000 after purchasing an additional 184,800 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Anavex Life Sciences by 197.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 248,139 shares of the biotechnology company's stock valued at $2,129,000 after purchasing an additional 164,792 shares during the period. Finally, Swiss National Bank purchased a new position in Anavex Life Sciences during the 1st quarter valued at about $1,411,000. Hedge funds and other institutional investors own 31.55% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on AVXL. Wall Street Zen downgraded Anavex Life Sciences from a "hold" rating to a "sell" rating in a report on Saturday, August 23rd. D. Boral Capital reiterated a "buy" rating and set a $46.00 target price on shares of Anavex Life Sciences in a report on Wednesday, August 27th. Finally, HC Wainwright reiterated a "buy" rating and set a $42.00 target price on shares of Anavex Life Sciences in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Anavex Life Sciences presently has a consensus rating of "Buy" and an average price target of $44.00.

Anavex Life Sciences Trading Up 4.6%

AVXL stock traded up $0.42 during midday trading on Monday, hitting $9.64. The company's stock had a trading volume of 881,720 shares, compared to its average volume of 883,327. The company has a market cap of $827.98 million, a PE ratio of -16.91 and a beta of 0.83. Anavex Life Sciences Corp. has a 12 month low of $4.93 and a 12 month high of $14.44. The firm's 50-day moving average is $10.53 and its 200-day moving average is $9.26.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Analysts expect that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current 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.