State Street Corp Sells 674,409 Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL)

State Street Corp decreased its position in Anavex Life Sciences Corp. (NASDAQ:AVXL) by 18.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,065,947 shares of the biotechnology company’s stock after selling 674,409 shares during the quarter. State Street Corp owned 3.62% of Anavex Life Sciences worth $17,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of AVXL. Nwam LLC purchased a new stake in shares of Anavex Life Sciences during the 3rd quarter valued at about $5,172,000. Renaissance Technologies LLC increased its stake in Anavex Life Sciences by 483.8% during the second quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company’s stock worth $1,968,000 after acquiring an additional 386,537 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in Anavex Life Sciences during the second quarter worth approximately $346,000. Squarepoint Ops LLC purchased a new stake in Anavex Life Sciences during the second quarter valued at approximately $191,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Anavex Life Sciences by 17.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 280,556 shares of the biotechnology company’s stock valued at $1,184,000 after purchasing an additional 40,895 shares during the last quarter. 31.55% of the stock is owned by hedge funds and other institutional investors.

Anavex Life Sciences Price Performance

Shares of NASDAQ AVXL opened at $10.87 on Wednesday. Anavex Life Sciences Corp. has a 1 year low of $3.25 and a 1 year high of $12.48. The firm has a 50-day simple moving average of $7.91 and a two-hundred day simple moving average of $6.29. The company has a market cap of $921.73 million, a P/E ratio of -21.74 and a beta of 0.73.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings data on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. As a group, equities research analysts expect that Anavex Life Sciences Corp. will post -0.55 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AVXL shares. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Anavex Life Sciences in a research report on Wednesday, November 27th. 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.

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.