Anavex Life Sciences (NASDAQ:AVXL) Shares Gap Up – Here’s Why

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $9.13, but opened at $10.30. Anavex Life Sciences shares last traded at $9.60, with a volume of 742,967 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AVXL shares. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Anavex Life Sciences in a research note on Monday, November 4th. D. Boral Capital reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Anavex Life Sciences in a research report on Monday.

Anavex Life Sciences Stock Performance

The stock has a 50 day moving average of $6.46 and a 200-day moving average of $5.58. The company has a market cap of $768.29 million, a PE ratio of -18.26 and a beta of 0.60.

Institutional Investors Weigh In On Anavex Life Sciences

A number of large investors have recently bought and sold shares of AVXL. SG Americas Securities LLC acquired a new stake in Anavex Life Sciences during the 2nd quarter valued at approximately $57,000. Orion Capital Management LLC lifted its position in Anavex Life Sciences by 666.7% during the third quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 10,000 shares during the period. PVG Asset Management Corp purchased a new stake in Anavex Life Sciences in the third quarter valued at $74,000. Atria Investments Inc acquired a new stake in Anavex Life Sciences during the 3rd quarter worth about $76,000. Finally, Fiduciary Alliance LLC raised its stake in shares of Anavex Life Sciences by 45.2% during the 2nd quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 31.55% of the company’s stock.

About Anavex Life Sciences

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.