Northwestern Mutual Wealth Management Co. Buys 740,338 Shares of Anavex Life Sciences Corp. $AVXL

Northwestern Mutual Wealth Management Co. boosted its stake in Anavex Life Sciences Corp. (NASDAQ:AVXL) by 17,921.5% in the 4th quarter, Holdings Channel reports. The firm owned 744,469 shares of the biotechnology company’s stock after acquiring an additional 740,338 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Anavex Life Sciences were worth $2,650,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AVXL. State of Wyoming bought a new stake in shares of Anavex Life Sciences during the 2nd quarter valued at about $26,000. AlphaQuest LLC bought a new stake in shares of Anavex Life Sciences during the 3rd quarter valued at about $29,000. Quarry LP bought a new stake in shares of Anavex Life Sciences during the 3rd quarter valued at about $36,000. Russell Investments Group Ltd. boosted its position in shares of Anavex Life Sciences by 11,540.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,984 shares of the biotechnology company’s stock valued at $62,000 after acquiring an additional 6,924 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Anavex Life Sciences during the 2nd quarter valued at about $95,000. Institutional investors own 31.55% of the company’s stock.

Anavex Life Sciences Price Performance

Shares of Anavex Life Sciences stock opened at $2.69 on Tuesday. The business’s 50 day simple moving average is $3.31 and its two-hundred day simple moving average is $4.02. The stock has a market capitalization of $249.28 million, a P/E ratio of -5.85 and a beta of 1.24. Anavex Life Sciences Corp. has a one year low of $2.61 and a one year high of $13.99.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings downgraded Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Anavex Life Sciences in a research report on Tuesday, February 10th. Rodman & Renshaw assumed coverage on Anavex Life Sciences in a research report on Monday, May 4th. They set a “buy” rating and a $20.00 price target for the company. Finally, D. Boral Capital reiterated a “buy” rating and set a $24.00 price target on shares of Anavex Life Sciences in a research report on Tuesday, March 31st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Anavex Life Sciences currently has a consensus rating of “Hold” and an average price target of $21.33.

About Anavex Life Sciences

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.