Anavex Life Sciences (NASDAQ:AVXL) Shares Gap Up to $11.42

Anavex Life Sciences Corp. (NASDAQ:AVXLGet Rating)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $11.42, but opened at $11.73. Anavex Life Sciences shares last traded at $11.82, with a volume of 1,474 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Anavex Life Sciences in a report on Wednesday, October 12th. They issued a “sell” rating for the company.

Anavex Life Sciences Trading Down 0.5 %

The company has a fifty day moving average price of $11.31 and a two-hundred day moving average price of $10.43. The firm has a market capitalization of $885.40 million, a PE ratio of -19.25 and a beta of 0.79.

Institutional Trading of Anavex Life Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC purchased a new stake in Anavex Life Sciences during the 2nd quarter valued at approximately $26,000. SeaCrest Wealth Management LLC purchased a new stake in Anavex Life Sciences during the 2nd quarter valued at approximately $44,000. Quantbot Technologies LP purchased a new stake in Anavex Life Sciences during the 2nd quarter valued at approximately $64,000. Janney Montgomery Scott LLC purchased a new stake in Anavex Life Sciences during the 3rd quarter valued at approximately $108,000. Finally, Dana Investment Advisors Inc. purchased a new stake in Anavex Life Sciences during the 1st quarter valued at approximately $132,000. 31.93% of the stock is owned by hedge funds and other institutional investors.

About Anavex Life Sciences

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Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. Its lead compound, ANAVEX2-73, is being developed to treat Alzheimer’s and Parkinson’s disease and central nervous system diseases, including Rett syndrome.

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