Anavex Life Sciences (NASDAQ:AVXL) Shares Gap Up – Here’s What Happened

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) gapped up prior to trading on Friday . The stock had previously closed at $8.30, but opened at $8.60. Anavex Life Sciences shares last traded at $8.48, with a volume of 193,857 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently commented on AVXL shares. D. Boral Capital reiterated a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research report on Monday, November 25th. HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Anavex Life Sciences in a research report on Wednesday, November 27th.

Anavex Life Sciences Trading Up 1.9 %

The business’s 50-day simple moving average is $7.33 and its 200 day simple moving average is $6.01. The company has a market capitalization of $717.41 million, a P/E ratio of -16.92 and a beta of 0.73.

Institutional Investors Weigh In On Anavex Life Sciences

Several large investors have recently modified their holdings of AVXL. Franklin Resources Inc. boosted its holdings in shares of Anavex Life Sciences by 6.7% in the third quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock worth $317,000 after buying an additional 3,674 shares during the period. PVG Asset Management Corp purchased a new stake in shares of Anavex Life Sciences in the 3rd quarter valued at approximately $74,000. Barclays PLC lifted its position in shares of Anavex Life Sciences by 70.4% in the 3rd quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock valued at $882,000 after acquiring an additional 64,101 shares in the last quarter. Orion Capital Management LLC boosted its stake in Anavex Life Sciences by 666.7% in the 3rd quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 10,000 shares during the period. Finally, Geode Capital Management LLC grew its position in Anavex Life Sciences by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock worth $10,699,000 after purchasing an additional 51,946 shares in the last quarter. 31.55% of the stock is owned by institutional investors.

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.