Anavex Life Sciences (NASDAQ:AVXL) Shares Gap Up to $6.74

Anavex Life Sciences Corp. (NASDAQ:AVXL) gapped up prior to trading on Monday . The stock had previously closed at $6.74, but opened at $7.00. Anavex Life Sciences shares last traded at $6.85, with a volume of 457,462 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Anavex Life Sciences in a research report on Tuesday, June 11th. EF Hutton Acquisition Co. I raised Anavex Life Sciences to a “strong-buy” rating in a report on Monday, July 22nd.

Anavex Life Sciences Stock Performance

The stock has a market cap of $589.94 million, a PE ratio of -14.78 and a beta of 0.63. The business’s fifty day moving average price is $4.53 and its 200-day moving average price is $4.82.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). During the same period in the prior year, the firm earned ($0.17) EPS. Analysts forecast that Anavex Life Sciences Corp. will post -0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Anavex Life Sciences by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,245,344 shares of the biotechnology company’s stock valued at $27,807,000 after purchasing an additional 41,193 shares during the last quarter. Foster Victor Wealth Advisors LLC raised its position in Anavex Life Sciences by 15.9% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 35,663 shares of the biotechnology company’s stock worth $332,000 after acquiring an additional 4,900 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Anavex Life Sciences by 351.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,498 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 7,395 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Anavex Life Sciences by 60.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 67,600 shares of the biotechnology company’s stock valued at $629,000 after acquiring an additional 25,500 shares during the period. Finally, Carnegie Capital Asset Management LLC increased its stake in shares of Anavex Life Sciences by 9.3% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 73,660 shares of the biotechnology company’s stock worth $686,000 after purchasing an additional 6,250 shares in the last quarter. 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.