Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $2.33 and traded as low as $1.29. Anavex Life Sciences shares last traded at $1.33, with a volume of 626,213 shares changing hands.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Anavex Life Sciences in a research report on Tuesday, September 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Anavex Life Sciences presently has an average rating of "Moderate Buy" and a consensus target price of $21.33.
Read Our Latest Stock Report on AVXL
Anavex Life Sciences Stock Performance
The stock has a market cap of $123.29 million, a P/E ratio of -8.87 and a beta of 1.17. The company's 50 day moving average price is $2.33 and its 200-day moving average price is $2.69.
Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last released its earnings results on Tuesday, August 25th. The biotechnology company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.16. On average, analysts forecast that Anavex Life Sciences Corp. will post -0.33 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Anavex Life Sciences
A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in Anavex Life Sciences by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 247,849 shares of the biotechnology company's stock worth $761,000 after purchasing an additional 3,794 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Anavex Life Sciences by 30.1% during the first quarter. NewEdge Advisors LLC now owns 36,733 shares of the biotechnology company's stock worth $113,000 after acquiring an additional 8,502 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of Anavex Life Sciences by 19.3% during the first quarter. Quantinno Capital Management LP now owns 54,547 shares of the biotechnology company's stock worth $167,000 after acquiring an additional 8,836 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Anavex Life Sciences by 26.3% in the 1st quarter. Cetera Investment Advisers now owns 54,137 shares of the biotechnology company's stock worth $166,000 after acquiring an additional 11,281 shares during the period. Finally, Yukon Wealth Management Inc. bought a new stake in Anavex Life Sciences in the 2nd quarter valued at about $36,000. Institutional investors own 31.55% of the company's stock.
About Anavex Life Sciences
(
Get Free Report)
Anavex Life Sciences Corp. is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative and neurodevelopmental disorders. The company's research centers on therapies that target sigma-1 receptors and other mechanisms involved in cellular stress, neuroprotection and neuronal function.
Anavex's lead investigational product is blarcamesine, also known as ANAVEX2-73, an orally administered small-molecule drug candidate being evaluated for conditions including Alzheimer's disease and Rett syndrome.
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