Bank of New York Mellon Corp Buys 40,895 Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL)

Bank of New York Mellon Corp grew its holdings in Anavex Life Sciences Corp. (NASDAQ:AVXL) by 17.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 280,556 shares of the biotechnology company’s stock after purchasing an additional 40,895 shares during the period. Bank of New York Mellon Corp owned about 0.33% of Anavex Life Sciences worth $1,184,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds 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 approximately $57,000. Fiduciary Alliance LLC acquired a new position in Anavex Life Sciences in the 1st quarter worth about $67,000. China Universal Asset Management Co. Ltd. boosted its position in Anavex Life Sciences by 66.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,773 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 6,275 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in Anavex Life Sciences in the fourth quarter valued at approximately $93,000. Finally, Victory Capital Management Inc. purchased a new position in Anavex Life Sciences during the fourth quarter valued at $100,000. Institutional investors own 31.55% of the company’s stock.

Anavex Life Sciences Stock Down 2.1 %

AVXL opened at $5.64 on Friday. The business’s 50 day moving average is $6.02 and its two-hundred day moving average is $4.89. The firm has a market cap of $477.38 million, a price-to-earnings ratio of -11.28 and a beta of 0.63. Anavex Life Sciences Corp. has a 52 week low of $3.25 and a 52 week high of $10.45.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. During the same quarter last year, the company posted ($0.14) EPS. Equities analysts expect that Anavex Life Sciences Corp. will post -0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on AVXL shares. EF Hutton Acquisition Co. I upgraded shares of Anavex Life Sciences to a “strong-buy” rating in a report on Monday, July 22nd. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Anavex Life Sciences in a research note on Thursday, August 1st.

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.