AveXis Inc. (AVXS) Short Interest Update
AveXis Inc. (NASDAQ:AVXS) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,252,999 shares, a decline of 19.2% from the October 14th total of 1,550,287 shares. Based on an average daily volume of 224,807 shares, the short-interest ratio is currently 5.6 days. Currently, 9.0% of the shares of the company are sold short.
In other AveXis news, insider Paul B. Manning sold 289,855 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $9,999,997.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its position in shares of AveXis by 1.0% in the third quarter. California State Teachers Retirement System now owns 10,238 shares of the company’s stock worth $422,000 after buying an additional 100 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AveXis by 7.1% in the third quarter. JPMorgan Chase & Co. now owns 37,150 shares of the company’s stock worth $1,531,000 after buying an additional 2,475 shares during the period. BlackRock Investment Management LLC boosted its stake in shares of AveXis by 8.3% in the second quarter. BlackRock Investment Management LLC now owns 33,303 shares of the company’s stock worth $1,266,000 after buying an additional 2,553 shares during the period. American International Group Inc. purchased a new stake in shares of AveXis during the second quarter worth about $106,000. Finally, RTW Investments LLC boosted its stake in shares of AveXis by 0.6% in the second quarter. RTW Investments LLC now owns 476,367 shares of the company’s stock worth $18,111,000 after buying an additional 2,993 shares during the period. Institutional investors own 54.46% of the company’s stock.
Shares of AveXis (NASDAQ:AVXS) opened at 67.35 on Monday. The company’s market capitalization is $1.55 billion. The company has a 50 day moving average of $49.59 and a 200-day moving average of $40.56. AveXis has a 12-month low of $16.11 and a 12-month high of $70.00.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings data on Thursday, November 10th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by $0.18. On average, equities analysts anticipate that AveXis will post ($3.21) EPS for the current fiscal year.
A number of research firms have issued reports on AVXS. Chardan Capital reissued a “buy” rating and set a $60.00 target price on shares of AveXis in a research note on Friday, August 12th. Jefferies Group upped their price target on shares of AveXis from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, September 19th. Bank of America Corp. initiated coverage on shares of AveXis in a research note on Friday, October 21st. They issued a “buy” rating for the company. Zacks Investment Research lowered shares of AveXis from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $80.00 price target (up from $52.00) on shares of AveXis in a research note on Wednesday, November 2nd. Seven equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $67.00.
AveXis, Inc, formerly Biolife Cell Bank, Inc, is a clinical-stage gene therapy company. The Company operates through 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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