Anavex Life Sciences Corp. (NASDAQ:AVXL) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in Anavex Life Sciences Corp. (NASDAQ:AVXL) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,823 shares of the biotechnology company’s stock after selling 1,742 shares during the quarter. JPMorgan Chase & Co.’s holdings in Anavex Life Sciences were worth $438,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AVXL. Berkshire Money Management Inc. purchased a new position in Anavex Life Sciences in the 4th quarter valued at $107,000. Prudential Financial Inc. acquired a new stake in shares of Anavex Life Sciences in the 4th quarter worth $109,000. Fiduciary Alliance LLC purchased a new stake in shares of Anavex Life Sciences in the fourth quarter valued at about $119,000. D.A. Davidson & CO. acquired a new position in shares of Anavex Life Sciences during the fourth quarter worth about $122,000. Finally, AlphaQuest LLC purchased a new position in Anavex Life Sciences during the fourth quarter worth about $146,000. Institutional investors and hedge funds own 31.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AVXL. D. Boral Capital reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Anavex Life Sciences in a report on Monday, April 7th. HC Wainwright reissued a “buy” rating and issued a $42.00 price target on shares of Anavex Life Sciences in a report on Monday, April 7th.

Anavex Life Sciences Stock Down 2.0 %

NASDAQ:AVXL opened at $9.31 on Friday. Anavex Life Sciences Corp. has a fifty-two week low of $3.51 and a fifty-two week high of $14.44. The firm’s fifty day simple moving average is $8.87 and its 200-day simple moving average is $8.86. The stock has a market cap of $791.95 million, a PE ratio of -16.93 and a beta of 0.80.

Anavex Life Sciences (NASDAQ:AVXL) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03. Equities analysts anticipate that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current year.

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.