AveXis, Inc. (AVXS) Stake Increased by BlackRock Inc.
BlackRock Inc. grew its holdings in AveXis, Inc. (NASDAQ:AVXS) by 34.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,301,229 shares of the company’s stock after buying an additional 592,843 shares during the quarter. BlackRock Inc. owned 8.28% of AveXis worth $189,069,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. increased its position in shares of AveXis by 41.7% in the second quarter. Russell Investments Group Ltd. now owns 24,871 shares of the company’s stock valued at $2,043,000 after buying an additional 7,321 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new stake in shares of AveXis in the second quarter valued at approximately $552,000. TimesSquare Capital Management LLC purchased a new stake in shares of AveXis in the second quarter valued at approximately $6,162,000. Credit Suisse AG increased its position in shares of AveXis by 36.4% in the first quarter. Credit Suisse AG now owns 63,228 shares of the company’s stock valued at $4,807,000 after buying an additional 16,876 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of AveXis by 3.0% in the first quarter. Swiss National Bank now owns 27,400 shares of the company’s stock valued at $2,083,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 94.71% of the company’s stock.
A number of research firms have recently commented on AVXS. Chardan Capital set a $103.00 price objective on AveXis and gave the company a “buy” rating in a research report on Sunday, June 18th. Sanford C. Bernstein began coverage on AveXis in a research report on Thursday, July 27th. They issued an “outperform” rating and a $108.00 price objective for the company. Evercore ISI began coverage on AveXis in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $120.00 price objective for the company. BMO Capital Markets restated an “outperform” rating and issued a $123.00 price objective on shares of AveXis in a research report on Saturday, September 30th. Finally, Zacks Investment Research upgraded AveXis from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $106.31.
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Shares of AveXis, Inc. (NASDAQ AVXS) opened at 100.49 on Tuesday. The stock has a 50 day moving average price of $94.22 and a 200-day moving average price of $82.99. The firm’s market capitalization is $3.21 billion. AveXis, Inc. has a 52 week low of $43.06 and a 52 week high of $104.53.
AveXis (NASDAQ:AVXS) last released its quarterly earnings data on Thursday, August 10th. The company reported ($2.07) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($1.10). During the same quarter in the previous year, the firm earned ($0.68) earnings per share. On average, analysts anticipate that AveXis, Inc. will post ($6.22) EPS for the current year.
In related news, VP Sukumar Nagendran sold 1,780 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $93.25, for a total value of $165,985.00. Following the completion of the transaction, the vice president now directly owns 1,780 shares of the company’s stock, valued at approximately $165,985. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 5,340 shares of company stock valued at $501,996 over the last ninety days. 18.60% of the stock is currently owned by company insiders.
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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