AveXis Inc. (AVXS) Sees Large Increase in Short Interest
AveXis Inc. (NASDAQ:AVXS) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,799,282 shares, a growth of 43.6% from the October 31st total of 1,252,999 shares. Approximately 9.1% of the company’s shares are sold short. Based on an average trading volume of 645,951 shares, the short-interest ratio is currently 2.8 days.
In other AveXis news, insider Paul B. Manning sold 289,855 shares of AveXis stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $9,999,997.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
A number of hedge funds have recently bought and sold shares of AVXS. JPMorgan Chase & Co. acquired a new position in shares of AveXis during the first quarter worth $976,000. Goldman Sachs Group Inc. acquired a new position in shares of AveXis during the first quarter worth $1,795,000. Candriam Luxembourg S.C.A. acquired a new position in shares of AveXis during the second quarter worth $1,825,000. Bank of New York Mellon Corp acquired a new position in shares of AveXis during the second quarter worth $1,204,000. Finally, California State Teachers Retirement System increased its position in shares of AveXis by 2.4% in the second quarter. California State Teachers Retirement System now owns 10,138 shares of the company’s stock worth $385,000 after buying an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 68.23% of the company’s stock.
A number of research analysts have weighed in on AVXS shares. Zacks Investment Research raised shares of AveXis from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Tuesday, August 16th. Chardan Capital reaffirmed a “buy” rating and set a $60.00 price target on shares of AveXis in a research report on Friday, August 12th. Jefferies Group raised shares of AveXis from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Friday, August 12th. Finally, Bank of America Corp. started coverage on shares of AveXis in a research report on Friday, October 21st. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $68.00.
Shares of AveXis (NASDAQ:AVXS) opened at 56.51 on Tuesday. The stock’s 50 day moving average is $55.48 and its 200-day moving average is $43.42. AveXis has a 1-year low of $16.11 and a 1-year high of $72.72. The stock’s market cap is $1.56 billion.
AveXis (NASDAQ:AVXS) last posted its quarterly earnings data on Thursday, November 10th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.69) by $0.18. On average, analysts anticipate that AveXis will post ($3.48) EPS for the current year.
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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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