Anavex Life Sciences (NASDAQ:AVXL) Stock Price Down 6.9% – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares were down 6.9% on Tuesday . The stock traded as low as $7.98 and last traded at $7.99. Approximately 1,244,032 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 1,322,760 shares. The stock had previously closed at $8.58.

Wall Street Analysts Forecast Growth

AVXL has been the subject of a number of research reports. HC Wainwright restated a “buy” rating and set a $42.00 target price on shares of Anavex Life Sciences in a research note on Monday. D. Boral Capital restated a “buy” rating and set a $46.00 price objective on shares of Anavex Life Sciences in a report on Wednesday, February 12th.

Anavex Life Sciences Stock Down 6.5 %

The stock has a fifty day moving average price of $8.99 and a two-hundred day moving average price of $8.35. The company has a market cap of $682.21 million, a price-to-earnings ratio of -14.58 and a beta of 0.94.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. Analysts predict that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Anavex Life Sciences

A number of institutional investors have recently modified their holdings of AVXL. Geode Capital Management LLC increased its holdings in Anavex Life Sciences by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock valued at $10,699,000 after buying an additional 51,946 shares during the period. Nwam LLC raised its position in Anavex Life Sciences by 0.3% during the fourth quarter. Nwam LLC now owns 913,051 shares of the biotechnology company’s stock valued at $9,806,000 after purchasing an additional 2,575 shares in the last quarter. Northern Trust Corp lifted its stake in Anavex Life Sciences by 1.6% during the fourth quarter. Northern Trust Corp now owns 706,901 shares of the biotechnology company’s stock worth $7,592,000 after purchasing an additional 10,938 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Anavex Life Sciences by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,215 shares of the biotechnology company’s stock valued at $7,273,000 after purchasing an additional 11,239 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Anavex Life Sciences by 2,419.8% during the 4th quarter. Invesco Ltd. now owns 615,048 shares of the biotechnology company’s stock worth $6,606,000 after buying an additional 590,639 shares in the last quarter. 31.55% of the stock is currently owned by institutional investors.

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.