Anavex Life Sciences (NASDAQ:AVXL) Trading Down 4.1% – Here’s Why

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s stock price traded down 4.1% during mid-day trading on Friday . The stock traded as low as $8.60 and last traded at $8.65. 481,756 shares traded hands during trading, a decline of 60% from the average session volume of 1,191,203 shares. The stock had previously closed at $9.02.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Anavex Life Sciences in a research report on Monday, November 4th.

Anavex Life Sciences Price Performance

The firm has a 50-day moving average of $6.32 and a 200-day moving average of $5.49. The stock has a market cap of $766.56 million, a PE ratio of -17.72 and a beta of 0.60.

Hedge Funds Weigh In On Anavex Life Sciences

Several institutional investors have recently added to or reduced their stakes in AVXL. Vanguard Group Inc. grew its holdings in Anavex Life Sciences by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 4,414,682 shares of the biotechnology company’s stock valued at $22,471,000 after buying an additional 54,034 shares in the last quarter. EntryPoint Capital LLC grew its stake in shares of Anavex Life Sciences by 371.1% in the 1st 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 in the last quarter. Virtu Financial LLC increased its holdings in shares of Anavex Life Sciences by 87.5% in the 1st quarter. Virtu Financial LLC now owns 40,612 shares of the biotechnology company’s stock worth $207,000 after buying an additional 18,954 shares during the last quarter. Fiduciary Alliance LLC increased its holdings 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 buying an additional 6,000 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Anavex Life Sciences during the 2nd quarter valued at about $57,000. Hedge funds and other institutional investors own 31.55% of the company’s stock.

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.