Anavex Life Sciences Corp. (NASDAQ:AVXL) saw a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 5,496,064 shares, a decline of 3.7% from the May 15th total of 5,705,235 shares. Based on an average daily volume of 254,238 shares, the short-interest ratio is presently 21.6 days.

Anavex Life Sciences Corp. (AVXL) remained flat at $5.34 during mid-day trading on Friday. The company had a trading volume of 129,979 shares. Anavex Life Sciences Corp. has a 52 week low of $2.43 and a 52 week high of $7.82. The company’s 50 day moving average is $5.75 and its 200 day moving average is $5.34. The stock’s market capitalization is $220.95 million.

AVXL has been the topic of several research analyst reports. Maxim Group set a $15.00 target price on shares of Anavex Life Sciences Corp. and gave the stock a “buy” rating in a research report on Monday, May 22nd. Noble Financial reissued a “buy” rating on shares of Anavex Life Sciences Corp. in a research report on Sunday, May 14th. Zacks Investment Research raised shares of Anavex Life Sciences Corp. from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Wednesday, April 12th. Finally, ValuEngine downgraded shares of Anavex Life Sciences Corp. from a “hold” rating to a “sell” rating in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $11.94.

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in Anavex Life Sciences Corp. during the first quarter worth $105,000. Northwest Investment Counselors LLC bought a new stake in Anavex Life Sciences Corp. during the second quarter worth $106,000. American International Group Inc. boosted its stake in Anavex Life Sciences Corp. by 7.1% in the first quarter. American International Group Inc. now owns 20,103 shares of the biotechnology company’s stock worth $115,000 after buying an additional 1,329 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in Anavex Life Sciences Corp. during the fourth quarter worth $151,000. Finally, Bank of America Corp DE boosted its stake in Anavex Life Sciences Corp. by 12.9% in the first quarter. Bank of America Corp DE now owns 39,981 shares of the biotechnology company’s stock worth $229,000 after buying an additional 4,561 shares during the last quarter. 22.77% of the stock is currently owned by institutional investors.

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About Anavex Life Sciences Corp.

Anavex Life Sciences Corp., is a clinical-stage biopharmaceutical company engaged in the development of drug candidates. The Company’s lead compounds include ANAVEX 2-73, ANAVEX PLUS, a combination of ANAVEX 2-73 with donepezil (Aricept), ANAVEX 19-144, ANAVEX 1-41, ANAVEX 7-1037, ANAVEX 3-71, ANAVEX 1079, ANAVEX 1519 and ANAVEX 1066 being developed to treat Alzheimer’s disease and other central nervous system (CNS) diseases.

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