Anavex Life Sciences (NASDAQ:AVXL) Trading Down 11.3% – Should You Sell?

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) were down 11.3% during mid-day trading on Wednesday . The company traded as low as $11.92 and last traded at $11.94. Approximately 957,544 shares traded hands during trading, a decline of 58% from the average daily volume of 2,266,342 shares. The stock had previously closed at $13.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AVXL shares. HC Wainwright upped their price objective on Anavex Life Sciences from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 26th. D. Boral Capital reaffirmed a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a research report on Monday, December 23rd.

Anavex Life Sciences Stock Performance

The company has a market cap of $952.48 million, a PE ratio of -22.46 and a beta of 0.70. The stock has a 50 day moving average of $9.40 and a 200-day moving average of $6.92.

Anavex Life Sciences (NASDAQ:AVXL) last posted its earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. Equities research analysts forecast that Anavex Life Sciences Corp. will post -0.55 EPS for the current year.

Institutional Trading of Anavex Life Sciences

Institutional investors have recently made changes to their positions in the company. Watts Gwilliam & Co. LLC acquired a new position in shares of Anavex Life Sciences during the fourth quarter worth $279,000. JPMorgan Chase & Co. increased its holdings in Anavex Life Sciences by 2.9% in the third quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company’s stock valued at $242,000 after buying an additional 1,191 shares in the last quarter. Franklin Resources Inc. increased its holdings in Anavex Life Sciences by 6.7% in the third quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock valued at $317,000 after buying an additional 3,674 shares in the last quarter. PVG Asset Management Corp purchased a new position in Anavex Life Sciences in the third quarter valued at about $74,000. Finally, Barclays PLC increased its holdings in Anavex Life Sciences by 70.4% in the third quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock valued at $882,000 after buying an additional 64,101 shares in 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.