Anavex Life Sciences (NASDAQ:AVXL) Sees Strong Trading Volume

Shares of Anavex Life Sciences Corp (NASDAQ:AVXL) saw unusually-high trading volume on Wednesday . Approximately 2,837,900 shares were traded during mid-day trading, an increase of 622% from the previous session’s volume of 393,254 shares.The stock last traded at $3.03 and had previously closed at $2.36.

AVXL has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Anavex Life Sciences from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. ValuEngine downgraded Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Anavex Life Sciences has a consensus rating of “Buy” and a consensus target price of $9.20.

The company has a market cap of $159.53 million, a price-to-earnings ratio of -7.77 and a beta of 2.17. The company has a fifty day moving average price of $2.58 and a two-hundred day moving average price of $2.89.

Several large investors have recently made changes to their positions in the company. AllSquare Wealth Management LLC grew its holdings in shares of Anavex Life Sciences by 11.3% during the 3rd quarter. AllSquare Wealth Management LLC now owns 40,424 shares of the biotechnology company’s stock worth $128,000 after purchasing an additional 4,120 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Anavex Life Sciences by 28.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 28,185 shares of the biotechnology company’s stock valued at $89,000 after buying an additional 6,157 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in Anavex Life Sciences in the 2nd quarter valued at $38,000. Squarepoint Ops LLC acquired a new stake in Anavex Life Sciences in the 3rd quarter valued at $40,000. Finally, FormulaFolio Investments LLC acquired a new stake in Anavex Life Sciences in the 3rd quarter valued at $44,000. 25.16% of the stock is currently owned by institutional investors.

Anavex Life Sciences Company Profile (NASDAQ:AVXL)

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of drug candidates for the treatment of central nervous system diseases. The company's lead drug candidate is ANAVEX 2-73, which has completed Phase 2a clinical trial for Alzheimer's disease; and preclinical clinical trials to treat Parkinson's disease, Rett syndrome, epilepsy, infantile spasms, Fragile X syndrome, Angelman syndrome, multiple sclerosis, and tuberous sclerosis.

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