Anavex Life Sciences (NASDAQ:AVXL) Trading Down 4.5% – Time to Sell?

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s share price was down 4.5% on Monday . The company traded as low as $7.88 and last traded at $7.90. Approximately 649,670 shares traded hands during trading, a decline of 47% from the average daily volume of 1,218,322 shares. The stock had previously closed at $8.27.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $42.00 price target on shares of Anavex Life Sciences in a report on Monday, April 7th. D. Boral Capital reiterated a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research note on Monday, April 7th.

Anavex Life Sciences Stock Down 4.1%

The company has a 50 day moving average of $8.43 and a 200 day moving average of $9.08. The firm has a market cap of $677.00 million, a price-to-earnings ratio of -14.42 and a beta of 0.68.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. During the same quarter last year, the company posted ($0.13) EPS. As a group, equities research analysts expect that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vermillion Wealth Management Inc. acquired a new stake in shares of Anavex Life Sciences during the 4th quarter valued at approximately $34,000. Tower Research Capital LLC TRC increased its stake in Anavex Life Sciences by 102.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,383 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 1,708 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of Anavex Life Sciences during the first quarter worth $102,000. Prudential Financial Inc. bought a new position in shares of Anavex Life Sciences in the 4th quarter worth about $109,000. Finally, 180 Wealth Advisors LLC bought a new position in shares of Anavex Life Sciences in the 1st quarter worth about $121,000. Institutional investors own 31.55% of the company’s stock.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of therapeutics for the treatment of central nervous system diseases. Its lead product candidate is ANAVEX 2-73 for the treatment of Alzheimer's disease and Parkinson's disease, as well as other central nervous system diseases, including rare diseases, such as Rett syndrome, a rare severe neurological monogenic disorder; and infantile spasms, Fragile X syndrome, and Angelman syndrome.