Choreo LLC Makes New $194,000 Investment in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Choreo LLC bought a new stake in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,622 shares of the biotechnology company’s stock, valued at approximately $194,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Advisor Group LLC raised its position in shares of Anavex Life Sciences by 617.5% during the 1st quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company’s stock worth $1,842,000 after buying an additional 184,800 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Anavex Life Sciences during the fourth quarter valued at approximately $1,704,000. Arizona State Retirement System bought a new stake in Anavex Life Sciences during the first quarter worth approximately $208,000. Cambridge Investment Research Advisors Inc. lifted its position in Anavex Life Sciences by 197.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 248,139 shares of the biotechnology company’s stock worth $2,129,000 after purchasing an additional 164,792 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in Anavex Life Sciences during the 1st quarter valued at $194,000. 31.55% of the stock is currently owned by institutional investors and hedge funds.

Anavex Life Sciences Stock Performance

Shares of NASDAQ:AVXL opened at $11.30 on Friday. The firm has a 50 day simple moving average of $9.65 and a 200 day simple moving average of $9.15. Anavex Life Sciences Corp. has a 52 week low of $4.93 and a 52 week high of $14.44. The company has a market cap of $965.25 million, a PE ratio of -20.55 and a beta of 0.72.

Anavex Life Sciences (NASDAQ:AVXL) last issued its earnings results on Tuesday, May 13th. The biotechnology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. During the same period last year, the firm posted ($0.13) earnings per share. On average, equities analysts predict that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AVXL has been the topic of several research reports. HC Wainwright reiterated a “buy” rating and issued a $42.00 price target on shares of Anavex Life Sciences in a research report on Monday, April 7th. D. Boral Capital reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Anavex Life Sciences in a research note on Monday, April 7th.

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.