Anavex Life Sciences (NASDAQ:AVXL) Stock Price Down 7.6% – Time to Sell?

Anavex Life Sciences Corp. (NASDAQ:AVXL) was down 7.6% during mid-day trading on Monday . The company traded as low as $11.19 and last traded at $11.19. Approximately 994,620 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 1,275,475 shares. The stock had previously closed at $12.11.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. D. Boral Capital reissued a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research report on Monday, December 23rd. HC Wainwright upped their target price on Anavex Life Sciences from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday.

Anavex Life Sciences Price Performance

The business’s 50 day moving average price is $8.29 and its 200 day moving average price is $6.46. The firm has a market cap of $966.90 million, a PE ratio of -22.80 and a beta of 0.73.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. As a group, analysts predict that Anavex Life Sciences Corp. will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in Anavex Life Sciences by 2.9% during the third quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company’s stock worth $242,000 after buying an additional 1,191 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Anavex Life Sciences by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 2,401 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Anavex Life Sciences by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock valued at $317,000 after acquiring an additional 3,674 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Anavex Life Sciences by 10.3% in the third quarter. Private Advisor Group LLC now owns 47,413 shares of the biotechnology company’s stock valued at $269,000 after purchasing an additional 4,442 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Anavex Life Sciences by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock worth $93,000 after buying an additional 6,366 shares during the last quarter. 31.55% of the stock is currently owned by institutional investors and hedge funds.

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.