Swiss National Bank Buys Shares of 164,400 Anavex Life Sciences Corp. $AVXL

Key Points

• The Swiss National Bank has acquired a new position in Anavex Life Sciences Corp., purchasing 164,400 shares valued at approximately $1.41 million.
• Anavex Life Sciences reported a loss of $0.16 EPS for the quarter, missing analysts' estimates and facing a consensus rating of "Buy" with an average target price of $44.00.
• Institutional investors hold 31.55% of Anavex Life Sciences, with several firms increasing their stakes recently, indicating growing interest in the biotechnology company.

Swiss National Bank purchased a new stake in Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 164,400 shares of the biotechnology company's stock, valued at approximately $1,411,000. Swiss National Bank owned 0.19% of Anavex Life Sciences as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AVXL. LPL Financial LLC raised its holdings in Anavex Life Sciences by 482.1% in the 1st quarter. LPL Financial LLC now owns 546,626 shares of the biotechnology company's stock valued at $4,690,000 after acquiring an additional 452,723 shares during the period. Vanguard Group Inc. raised its holdings in Anavex Life Sciences by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 4,902,246 shares of the biotechnology company's stock valued at $42,061,000 after acquiring an additional 221,802 shares during the period. Private Advisor Group LLC raised its holdings in Anavex Life Sciences by 617.5% in the 1st quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company's stock valued at $1,842,000 after acquiring an additional 184,800 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Anavex Life Sciences by 197.7% in 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 acquiring an additional 164,792 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Anavex Life Sciences during the fourth quarter worth approximately $1,704,000. 31.55% of the stock is owned by institutional investors.

Anavex Life Sciences Stock Performance

Shares of NASDAQ AVXL traded up $0.42 during trading hours on Friday, hitting $9.64. 881,720 shares of the stock were exchanged, 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. The company's fifty day simple moving average is $10.53 and its two-hundred day simple moving average is $9.26. Anavex Life Sciences Corp. has a 1-year low of $4.93 and a 1-year high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last posted its quarterly earnings results 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). As a group, sell-side analysts expect that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AVXL. D. Boral Capital reaffirmed a "buy" rating and set a $46.00 target price on shares of Anavex Life Sciences in a report on Wednesday. Wall Street Zen cut shares of Anavex Life Sciences from a "hold" rating to a "sell" rating in a report on Saturday, August 23rd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $42.00 target price on shares of Anavex Life Sciences in a report on Friday, August 22nd. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Anavex Life Sciences currently has a consensus rating of "Buy" and an average target price of $44.00.

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.