PNC Financial Services Group Inc. Has $495,000 Stake in Anavex Life Sciences Corp. (NASDAQ:AVXL)

PNC Financial Services Group Inc. boosted its position in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) by 20.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,673 shares of the biotechnology company’s stock after acquiring an additional 9,966 shares during the quarter. PNC Financial Services Group Inc. owned 0.07% of Anavex Life Sciences worth $495,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its position in shares of Anavex Life Sciences by 482.1% in the 1st quarter. LPL Financial LLC now owns 546,626 shares of the biotechnology company’s stock valued at $4,690,000 after acquiring an additional 452,723 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Anavex Life Sciences by 703.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,792 shares of the biotechnology company’s stock worth $161,000 after purchasing an additional 16,453 shares during the period. Cetera Investment Advisers increased its position in Anavex Life Sciences by 43.3% during the first quarter. Cetera Investment Advisers now owns 20,059 shares of the biotechnology company’s stock worth $172,000 after buying an additional 6,058 shares during the last quarter. Carnegie Investment Counsel raised its stake in Anavex Life Sciences by 7.8% in the first quarter. Carnegie Investment Counsel now owns 82,778 shares of the biotechnology company’s stock valued at $690,000 after buying an additional 6,000 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Anavex Life Sciences in the first quarter valued at approximately $141,000. Institutional investors and hedge funds own 31.55% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital reissued a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a report on Wednesday.

Anavex Life Sciences Price Performance

Shares of AVXL opened at $10.56 on Thursday. The company’s 50-day moving average is $10.26 and its 200-day moving average is $9.21. The firm has a market capitalization of $902.04 million, a PE ratio of -18.53 and a beta of 0.80. Anavex Life Sciences Corp. has a fifty-two week low of $4.93 and a fifty-two week high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Analysts predict that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal 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.