Several other research analysts also recently issued reports on the company. Royal Bank Of Canada upped their price objective on AveXis from $92.00 to $97.00 and gave the stock a sector perform rating in a report on Friday, November 10th. Chardan Capital reaffirmed a buy rating on shares of AveXis in a report on Thursday, November 2nd. Zacks Investment Research downgraded AveXis from a buy rating to a hold rating in a research note on Monday, October 30th. Canaccord Genuity assumed coverage on AveXis in a research note on Thursday, October 26th. They issued a hold rating and a $110.00 price target on the stock. Finally, BMO Capital Markets reissued an outperform rating and issued a $130.00 price target (up previously from $123.00) on shares of AveXis in a research note on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $110.67.
AveXis (NASDAQ AVXS) traded down $1.07 during midday trading on Friday, reaching $93.85. The company had a trading volume of 228,300 shares, compared to its average volume of 428,303. AveXis has a 1-year low of $44.68 and a 1-year high of $108.27.
In other AveXis news, insider Brian K. Kaspar sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $101.46, for a total transaction of $1,521,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sukumar Nagendran sold 1,780 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $93.25, for a total transaction of $165,985.00. Following the sale, the vice president now owns 1,780 shares of the company’s stock, valued at $165,985. The disclosure for this sale can be found here. Insiders sold a total of 35,340 shares of company stock valued at $3,559,683 over the last quarter. 18.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Amalgamated Bank lifted its position in AveXis by 19.6% during the third quarter. Amalgamated Bank now owns 3,187 shares of the company’s stock worth $308,000 after acquiring an additional 523 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in AveXis by 2.9% during the second quarter. Parametric Portfolio Associates LLC now owns 20,943 shares of the company’s stock worth $1,721,000 after acquiring an additional 598 shares during the last quarter. American International Group Inc. lifted its position in AveXis by 26.7% during the first quarter. American International Group Inc. now owns 3,521 shares of the company’s stock worth $268,000 after acquiring an additional 742 shares during the last quarter. Seven Bridges Advisors LLC lifted its position in AveXis by 49.4% during the second quarter. Seven Bridges Advisors LLC now owns 2,557 shares of the company’s stock worth $210,000 after acquiring an additional 846 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of AveXis by 0.5% in the second quarter. Jennison Associates LLC now owns 184,668 shares of the company’s stock valued at $15,172,000 after buying an additional 882 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.
AveXis Company Profile
AveXis, Inc is a clinical-stage gene therapy company. The Company operates through the developing and commercializing gene therapy treatments for patients suffering from neurological genetic diseases segment. The Company’s product candidate, AVXS-101, is its gene therapy product candidate that is in a Phase I clinical trial for the treatment of spinal muscular atrophy (SMA) Type 1, which is a genetic disorder characterized by motor neuron loss and associated muscle deterioration.
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