Anavex Life Sciences (NASDAQ:AVXL) Stock Price Down 5.2% – Time to Sell?

Anavex Life Sciences Corp. (NASDAQ:AVXL) dropped 5.2% on Tuesday . The company traded as low as $8.80 and last traded at $8.84. Approximately 304,996 shares were traded during trading, a decline of 75% from the average daily volume of 1,204,857 shares. The stock had previously closed at $9.32.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Anavex Life Sciences in a research report on Wednesday, November 27th. D. Boral Capital restated a “buy” rating and set a $46.00 price target on shares of Anavex Life Sciences in a report on Monday, November 25th.

Anavex Life Sciences Stock Performance

The firm has a 50-day moving average of $6.82 and a 200-day moving average of $5.76. The firm has a market capitalization of $763.20 million, a P/E ratio of -18.14 and a beta of 0.73.

Institutional Trading of Anavex Life Sciences

A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Anavex Life Sciences during the second quarter valued at approximately $57,000. Orion Capital Management LLC grew 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 acquiring an additional 10,000 shares during the period. PVG Asset Management Corp purchased a new position in Anavex Life Sciences in the third quarter worth about $74,000. Atria Investments Inc bought a new position in shares of Anavex Life Sciences in the 3rd quarter worth approximately $76,000. Finally, Fiduciary Alliance LLC boosted its holdings in shares of Anavex Life Sciences by 45.2% in the second quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock worth $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.

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.