Los Angeles Capital Management LLC Sells 65,854 Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL)

Los Angeles Capital Management LLC lessened its holdings in Anavex Life Sciences Corp. (NASDAQ:AVXL) by 74.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 22,077 shares of the biotechnology company’s stock after selling 65,854 shares during the period. Los Angeles Capital Management LLC’s holdings in Anavex Life Sciences were worth $93,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Rhumbline Advisers increased its stake in Anavex Life Sciences by 15.8% in the second quarter. Rhumbline Advisers now owns 119,289 shares of the biotechnology company’s stock valued at $503,000 after acquiring an additional 16,293 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Anavex Life Sciences by 17.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 280,556 shares of the biotechnology company’s stock worth $1,184,000 after buying an additional 40,895 shares during the period. SG Americas Securities LLC acquired a new stake in Anavex Life Sciences in the 2nd quarter valued at $57,000. Fiduciary Alliance LLC grew its position in Anavex Life Sciences by 45.2% in the second quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 6,000 shares during the period. Finally, Virtu Financial LLC raised its stake in Anavex Life Sciences by 87.5% during the first quarter. Virtu Financial LLC now owns 40,612 shares of the biotechnology company’s stock worth $207,000 after acquiring an additional 18,954 shares in the last quarter. Institutional investors and hedge funds own 31.55% of the company’s stock.

Anavex Life Sciences Stock Performance

Shares of NASDAQ:AVXL opened at $5.70 on Tuesday. The business has a fifty day moving average of $5.97 and a 200-day moving average of $4.88. The firm has a market cap of $483.36 million, a PE ratio of -11.40 and a beta of 0.62. Anavex Life Sciences Corp. has a twelve month low of $3.25 and a twelve month high of $10.45.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. During the same quarter in the prior year, the company earned ($0.14) earnings per share. On average, analysts anticipate that Anavex Life Sciences Corp. will post -0.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVXL. HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Anavex Life Sciences in a research report on Thursday, August 1st. EF Hutton Acquisition Co. I upgraded shares of Anavex Life Sciences to a “strong-buy” rating in a research note on Monday, July 22nd.

Anavex Life Sciences 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.