Anavex Life Sciences (NASDAQ:AVXL) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.14 and traded as low as $3.62. Anavex Life Sciences shares last traded at $3.80, with a volume of 4,937,260 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AVXL shares. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Anavex Life Sciences in a research note on Friday, December 19th. D. Boral Capital restated a “buy” rating and set a $24.00 price target on shares of Anavex Life Sciences in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Anavex Life Sciences in a research note on Monday. Finally, Jones Trading lowered Anavex Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, October 24th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Anavex Life Sciences currently has an average rating of “Hold” and a consensus price target of $22.00.

Anavex Life Sciences Stock Performance

The stock’s 50-day simple moving average is $5.02 and its 200 day simple moving average is $8.18. The company has a market capitalization of $318.09 million, a PE ratio of -6.59 and a beta of 1.15.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings data on Tuesday, November 25th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. During the same period in the previous year, the company posted ($0.14) earnings per share. On average, analysts expect that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current year.

Institutional Trading of Anavex Life Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Delta Asset Management LLC TN lifted its holdings in shares of Anavex Life Sciences by 9.1% during the second quarter. Delta Asset Management LLC TN now owns 12,000 shares of the biotechnology company’s stock worth $111,000 after purchasing an additional 1,000 shares during the period. Ameriprise Financial Inc. boosted its position in Anavex Life Sciences by 1.5% during the second quarter. Ameriprise Financial Inc. now owns 85,990 shares of the biotechnology company’s stock worth $793,000 after purchasing an additional 1,233 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Anavex Life Sciences by 22.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,535 shares of the biotechnology company’s stock valued at $79,000 after acquiring an additional 1,559 shares in the last quarter. SeaCrest Wealth Management LLC increased its stake in shares of Anavex Life Sciences by 11.9% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 19,700 shares of the biotechnology company’s stock worth $182,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Independent Advisor Alliance raised its position in shares of Anavex Life Sciences by 5.7% during the 3rd quarter. Independent Advisor Alliance now owns 47,799 shares of the biotechnology company’s stock worth $425,000 after purchasing an additional 2,593 shares during the last quarter. 31.55% of the stock is owned by hedge funds and other institutional investors.

About Anavex Life Sciences

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.