Anavex Life Sciences (NASDAQ:AVXL) Stock Price Up 7.8% – Here’s What Happened

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s share price rose 7.8% during mid-day trading on Friday . The company traded as high as $8.31 and last traded at $8.19. Approximately 446,675 shares traded hands during trading, a decline of 63% from the average daily volume of 1,209,699 shares. The stock had previously closed at $7.60.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. D. Boral Capital reiterated a “buy” rating and set a $46.00 price objective on shares of Anavex Life Sciences in a research report on Monday, November 25th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Anavex Life Sciences in a report on Wednesday, November 27th.

Anavex Life Sciences Stock Performance

The company has a market cap of $690.27 million, a PE ratio of -16.28 and a beta of 0.73. The company has a fifty day moving average of $7.05 and a two-hundred day moving average of $5.86.

Institutional Investors Weigh In On Anavex Life Sciences

Several institutional investors have recently made changes to their positions in AVXL. SG Americas Securities LLC purchased a new stake in Anavex Life Sciences in the 2nd quarter worth about $57,000. Orion Capital Management LLC raised its holdings in shares of Anavex Life Sciences by 666.7% in the third quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock worth $65,000 after buying an additional 10,000 shares during the period. PVG Asset Management Corp purchased a new stake in shares of Anavex Life Sciences in the third quarter worth approximately $74,000. Atria Investments Inc purchased a new position in Anavex Life Sciences during the 3rd quarter valued at $76,000. Finally, BNP Paribas Financial Markets grew its position in Anavex Life Sciences by 97.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,074 shares of the biotechnology company’s stock valued at $86,000 after acquiring an additional 7,421 shares during the last quarter. 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.