TimesSquare Capital Management LLC Invests $6.16 Million in AveXis, Inc. (AVXS)
TimesSquare Capital Management LLC purchased a new position in AveXis, Inc. (NASDAQ:AVXS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 75,000 shares of the company’s stock, valued at approximately $6,162,000. TimesSquare Capital Management LLC owned 0.27% of AveXis at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of AveXis by 65.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 55,073 shares of the company’s stock worth $4,524,000 after purchasing an additional 21,773 shares during the period. Swiss National Bank raised its holdings in shares of AveXis by 54.4% in the 2nd quarter. Swiss National Bank now owns 42,300 shares of the company’s stock worth $3,475,000 after purchasing an additional 14,900 shares during the period. Eagle Asset Management Inc. bought a new stake in shares of AveXis in the 2nd quarter worth approximately $9,176,000. Principal Financial Group Inc. bought a new stake in shares of AveXis in the 2nd quarter worth approximately $307,000. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of AveXis in the 2nd quarter worth approximately $552,000. 94.71% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on the stock. Chardan Capital set a $103.00 price target on shares of AveXis and gave the stock a “buy” rating in a report on Sunday, June 18th. Sanford C. Bernstein assumed coverage on shares of AveXis in a report on Thursday, July 27th. They issued an “outperform” rating and a $108.00 price target on the stock. Evercore ISI assumed coverage on shares of AveXis in a report on Wednesday, August 16th. They issued an “outperform” rating and a $120.00 price target on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $123.00 price target on shares of AveXis in a report on Friday, August 11th. Finally, Zacks Investment Research raised shares of AveXis from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $99.75.
AveXis, Inc. (NASDAQ:AVXS) opened at 93.16 on Tuesday. The company has a 50-day moving average of $92.73 and a 200-day moving average of $78.87. AveXis, Inc. has a 1-year low of $32.31 and a 1-year high of $99.45. The stock’s market capitalization is $2.97 billion.
AveXis (NASDAQ:AVXS) last released its quarterly earnings results on Thursday, August 10th. The company reported ($2.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by $1.10. During the same period last year, the company posted ($0.68) EPS. Analysts anticipate that AveXis, Inc. will post ($6.04) earnings per share for the current fiscal year.
In other AveXis news, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $93.25, for a total value of $165,985.00. Following the transaction, the vice president now directly owns 1,780 shares in the company, valued at $165,985. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 5,340 shares of company stock worth $474,637 over the last quarter. Insiders own 18.60% of the company’s stock.
AveXis, Inc is a clinical-stage gene therapy company. The Company operates through the 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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