Forum Financial Management LP Makes New Investment in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Forum Financial Management LP bought a new stake in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) in the third quarter, HoldingsChannel.com reports. The firm bought 35,140 shares of the biotechnology company’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Anavex Life Sciences during the second quarter valued at $57,000. China Universal Asset Management Co. Ltd. increased its position 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 valued at $93,000 after purchasing an additional 6,366 shares during the last quarter. Fiduciary Alliance LLC lifted its stake in shares of Anavex Life Sciences by 45.2% in the 2nd quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 6,000 shares during the period. EntryPoint Capital LLC boosted its holdings in shares of Anavex Life Sciences by 371.1% in the first quarter. EntryPoint Capital LLC now owns 20,007 shares of the biotechnology company’s stock worth $102,000 after buying an additional 15,760 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position 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 valued at $129,000 after buying an additional 2,401 shares during the period. 31.55% of the stock is owned by institutional investors.

Anavex Life Sciences Trading Up 5.5 %

Shares of NASDAQ:AVXL opened at $7.70 on Wednesday. Anavex Life Sciences Corp. has a 12-month low of $3.25 and a 12-month high of $10.45. The company has a market cap of $652.93 million, a PE ratio of -15.40 and a beta of 0.60. The stock has a 50 day moving average of $5.60 and a 200 day moving average of $5.08.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. Equities research analysts predict that Anavex Life Sciences Corp. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AVXL has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Anavex Life Sciences in a research report on Monday. EF Hutton Acquisition Co. I upgraded Anavex Life Sciences to a “strong-buy” rating in a research report on Monday, July 22nd.

Anavex Life Sciences 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.