SSgA Funds Management, Inc. recently announced the acquisition of new stake in Anavex Life Sciences Corp. (NASDAQ:AVXL). The institutional investor has increased its shareholding in the Healthcare company by 33.27% to 5.81 million shares with purchase of 1.45 million shares. This fresh investment now brings its stake to 7.45% valued currently at $55.34 million. In addition, BlackRock Fund Advisors raised its holdings by 0.18 million to 5.0 million shares. And The Vanguard Group, Inc. has lifted its position by 0.97% or 38084.0 shares – to 3.96 million shares.
With over 1.83 million Anavex Life Sciences Corp. (AVXL) shares trading Monday and a closing price of $9.40 on the day, the dollar volume was approximately $17.19 million. The shares have shown a negative half year performance of -8.74% and its price on 03/13/23 gained nearly 4.68%. Currently, there are 77.98M common shares owned by the public and among those 75.61M shares have been available to trade.
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Insiders at the company have transacted a total of 2 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 50,000 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 50,000 shares.
The top 3 mutual fund holders in Anavex Life Sciences Corp. are SPDR S&P Biotech ETF, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. SPDR S&P Biotech ETF owns 3.91 million shares of the company’s stock, all valued at over $37.22 million. The company sold 34770.0 shares recently to bring their total holdings to about 5.01% of the shares outstanding. iShares Russell 2000 ETF sold 4806.0 shares to bring its total holdings to over 1.52 million shares at a value of $14.46 million. iShares Russell 2000 ETF now owns shares totaling to 1.95% of the shares outstanding.
Shares of Anavex Life Sciences Corp. (NASDAQ: AVXL) opened at $8.59, down -$0.39 from a prior closing price of $8.98. However, the script later moved the day high at 9.48, up 4.68%. The company’s stock has a 5-day price change of -4.76% and 16.34% over the past three months. AVXL shares are trading 1.51% year to date (YTD), with the 12-month market performance down to -16.00% lower. It has a 12-month low price of $7.13 and touched a high of $15.24 over the same period. AVXL has an average intraday trading volume of 1.25 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.90%, -8.12%, and -9.00% respectively.
Institutional ownership of Anavex Life Sciences Corp. (NASDAQ: AVXL) shares accounts for 32.10% of the company’s 77.98M shares outstanding. Mutual fund holders own 19.88%, while other institutional holders and individual stakeholders account for 3.01% and 15.06% respectively.
It has a market capitalization of $790.73M and a beta (3y monthly) value of 0.79. The earnings-per-share (ttm) stands at -$0.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.18% over the week and 4.65% over the month.
Analysts forecast that Anavex Life Sciences Corp. (AVXL) will achieve an EPS of -$0.19 for the current quarter, -$0.2 for the next quarter and -$0.6 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.2 while analysts give the company a high EPS estimate of -$0.18. Comparatively, EPS for the current quarter was -$0.14 a year ago. Earnings per share for the fiscal year are expected to decrease by -14.90%, and 13.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Anavex Life Sciences Corp. (AVXL) as a “Strong Buy” at a consensus score of 1.80. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AVXL, a number of firms have released research notes about the stock. Cantor Fitzgerald stated their Neutral rating for the stock in a research note on December 06, 2022, with the firm’s price target at $16-$11. Berenberg coverage for the Anavex Life Sciences Corp. (AVXL) stock in a research note released on June 23, 2022 offered a Buy rating with a price target of $40. BTIG Research was of a view on September 23, 2021 that the stock is Buy, while H.C. Wainwright gave the stock Buy rating on December 16, 2020, issuing a price target of $14- $17. Ladenburg Thalmann on their part issued Buy rating on September 28, 2020.
