Geneos Wealth Management Inc. Has $578,000 Stock Holdings in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Geneos Wealth Management Inc. reduced its stake in Anavex Life Sciences Corp. (NASDAQ:AVXL) by 21.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,775 shares of the biotechnology company’s stock after selling 14,450 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Anavex Life Sciences were worth $578,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Anavex Life Sciences by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company’s stock worth $242,000 after purchasing an additional 1,191 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Anavex Life Sciences by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock worth $129,000 after buying an additional 2,401 shares during the last quarter. Carnegie Investment Counsel lifted its holdings in Anavex Life Sciences by 4.7% in the fourth quarter. Carnegie Investment Counsel now owns 76,778 shares of the biotechnology company’s stock valued at $825,000 after buying an additional 3,445 shares during the period. Franklin Resources Inc. boosted its position in Anavex Life Sciences by 6.7% during the third 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. Finally, Private Advisor Group LLC grew its holdings in Anavex Life Sciences by 10.3% during the 3rd quarter. Private Advisor Group LLC now owns 47,413 shares of the biotechnology company’s stock worth $269,000 after acquiring an additional 4,442 shares during the period. 31.55% of the stock is owned by institutional investors and hedge funds.

Anavex Life Sciences Trading Up 0.9 %

AVXL opened at $9.91 on Wednesday. The company has a market cap of $840.57 million, a P/E ratio of -19.06 and a beta of 0.70. The company has a fifty day moving average price of $9.95 and a two-hundred day moving average price of $7.49. Anavex Life Sciences Corp. has a 1-year low of $3.25 and a 1-year high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. On average, research analysts forecast that Anavex Life Sciences Corp. will post -0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AVXL shares. HC Wainwright reissued a “buy” rating and issued a $42.00 price objective on shares of Anavex Life Sciences in a research note on Tuesday. D. Boral Capital reissued a “buy” rating and issued a $46.00 price target on shares of Anavex Life Sciences in a research note on Tuesday.

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.