Rafferty Asset Management LLC Sells 64,985 Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL)

Rafferty Asset Management LLC lowered its stake in Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) by 46.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,601 shares of the biotechnology company's stock after selling 64,985 shares during the period. Rafferty Asset Management LLC owned approximately 0.09% of Anavex Life Sciences worth $801,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew 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 acquiring an additional 1,708 shares in the last quarter. Berkshire Money Management Inc. purchased a new position in Anavex Life Sciences in the fourth quarter worth about $107,000. Prudential Financial Inc. purchased a new position in Anavex Life Sciences in the fourth quarter worth about $109,000. D.A. Davidson & CO. purchased a new position in Anavex Life Sciences in the fourth quarter worth about $122,000. Finally, AlphaQuest LLC purchased a new position in Anavex Life Sciences in the fourth quarter worth about $146,000. Hedge funds and other institutional investors own 31.55% of the company's stock.

Anavex Life Sciences Stock Performance

NASDAQ AVXL traded up $0.05 during trading on Tuesday, hitting $7.58. The stock had a trading volume of 191,500 shares, compared to its average volume of 1,222,080. The stock has a market capitalization of $647.12 million, a price-to-earnings ratio of -13.74 and a beta of 0.82. Anavex Life Sciences Corp. has a one year low of $3.51 and a one year high of $14.44. The stock has a 50 day simple moving average of $8.70 and a 200 day simple moving average of $9.13.

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. 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. 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.

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.