Anavex Life Sciences (NASDAQ:AVXL) Trading Up 8.1% – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s stock price traded up 8.1% on Friday . The company traded as high as $8.30 and last traded at $8.26. 993,620 shares changed hands during trading, a decline of 15% from the average session volume of 1,169,619 shares. The stock had previously closed at $7.64.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AVXL shares. EF Hutton Acquisition Co. I upgraded shares of Anavex Life Sciences to a “strong-buy” rating in a research note on Monday, July 22nd. HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of Anavex Life Sciences in a research report on Monday, November 4th.

Anavex Life Sciences Stock Up 21.0 %

The firm’s 50-day moving average price is $5.77 and its 200 day moving average price is $5.20. The firm has a market cap of $783.55 million, a P/E ratio of -18.48 and a beta of 0.60.

Institutional Investors Weigh In On Anavex Life Sciences

Several large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Anavex Life Sciences by 30.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,850 shares of the biotechnology company’s stock worth $279,000 after buying an additional 12,728 shares in the last quarter. Nwam LLC grew its stake in shares of Anavex Life Sciences by 4.8% in the first quarter. Nwam LLC now owns 836,730 shares of the biotechnology company’s stock worth $4,259,000 after purchasing an additional 38,437 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of Anavex Life Sciences by 675.0% during the first quarter. Jupiter Asset Management Ltd. now owns 804,642 shares of the biotechnology company’s stock valued at $4,096,000 after purchasing an additional 700,812 shares during the period. Vanguard Group Inc. raised its stake in shares of Anavex Life Sciences by 1.2% during the first quarter. Vanguard Group Inc. now owns 4,414,682 shares of the biotechnology company’s stock valued at $22,471,000 after purchasing an additional 54,034 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its holdings in Anavex Life Sciences by 371.1% in the first quarter. EntryPoint Capital LLC now owns 20,007 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 15,760 shares during the period. Institutional investors and hedge funds 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.