BlackRock Fund Advisors recently announced the acquisition of new stake in Anavex Life Sciences Corporation (NASDAQ:AVXL). The institutional investor has increased its shareholding in the Healthcare company by 1.60% to 5.37 million shares with purchase of 84569.0 shares. This fresh investment now brings its stake to 6.54% valued currently at $38.68 million. In addition, The Vanguard Group, Inc. raised its holdings by 37880.0 to 4.04 million shares. And Geode Capital Management LLC has lifted its position by 1.99% or 30668.0 shares – to 1.57 million shares.
Currently, there are 82.07M common shares owned by the public and among those 79.50M shares have been available to trade.
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Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 500,000 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 268,000 shares.
The top 3 mutual fund holders in Anavex Life Sciences Corporation are SPDR S&P Biotech ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. SPDR S&P Biotech ETF owns 2.38 million shares of the company’s stock, all valued at over $17.16 million. The company bought an additional 11085.0 shares recently to bring their total holdings to about 2.90% of the shares outstanding. iShares Russell 2000 ETF bought 852.0 shares to bring its total holdings to over 1.73 million shares at a value of $12.5 million. iShares Russell 2000 ETF now owns shares totaling to 2.11% of the shares outstanding.
The company’s stock has a 5-day price change of 26.11% and 37.43% over the past three months. AVXL shares are trading 7.45% year to date (YTD), with the 12-month market performance up to 15.16% higher. It has a 12-month low price of $4.90 and touched a high of $11.93 over the same period. AVXL has an average intraday trading volume of 983.68K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 29.72%, 51.91%, and 26.42% respectively.
Institutional ownership of Anavex Life Sciences Corporation (NASDAQ: AVXL) shares accounts for 30.66% of the company’s 82.07M shares outstanding. Mutual fund holders own 17.37%, while other institutional holders and individual stakeholders account for 3.18% and 13.31% respectively.
It has a market capitalization of $816.80M and a beta (3y monthly) value of 0.67. The earnings-per-share (ttm) stands at -$0.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.36% over the week and 6.72% over the month.
Analysts forecast that Anavex Life Sciences Corporation (AVXL) will achieve an EPS of -$0.15 for the current quarter, -$0.16 for the next quarter and -$0.29 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.17 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.17 a year ago. Earnings per share for the fiscal year are expected to increase by 3.33%, and 48.28% over the next financial year.
Looking at the support for the AVXL, a number of firms have released research notes about the stock. Cantor Fitzgerald stated their Neutral rating for the stock in a research note on December 06, 2022, with the firm’s price target at $16-$11.
