Millennium Management LLC Trims Position in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Millennium Management LLC lessened its position in Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) by 39.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 207,778 shares of the biotechnology company's stock after selling 133,208 shares during the period. Millennium Management LLC owned about 0.24% of Anavex Life Sciences worth $2,232,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in 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 valued at $36,000 after purchasing an additional 1,708 shares during the period. Berkshire Money Management Inc. bought a new position in Anavex Life Sciences during the fourth quarter valued at approximately $107,000. Prudential Financial Inc. bought a new position in Anavex Life Sciences during the fourth quarter valued at approximately $109,000. D.A. Davidson & CO. purchased a new stake in Anavex Life Sciences during the fourth quarter valued at approximately $122,000. Finally, AlphaQuest LLC bought a new position in Anavex Life Sciences in the fourth quarter worth approximately $146,000. Institutional investors own 31.55% of the company's stock.

Anavex Life Sciences Stock Up 0.8%

AVXL traded up $0.06 during trading on Thursday, hitting $7.78. The company's stock had a trading volume of 579,064 shares, compared to its average volume of 1,216,731. Anavex Life Sciences Corp. has a one year low of $3.51 and a one year high of $14.44. The firm has a market cap of $664.19 million, a PE ratio of -14.15 and a beta of 0.82. The business's 50 day simple moving average is $8.42 and its 200-day simple moving average is $9.08.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVXL. HC Wainwright reiterated a "buy" rating and issued a $42.00 price target on shares of Anavex Life Sciences in a research report on Monday, April 7th. D. Boral Capital reiterated a "buy" rating and issued a $46.00 price target on shares of Anavex Life Sciences in a research report on Monday, April 7th.

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.