Carnegie Capital Asset Management LLC Buys 6,250 Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL)

Carnegie Capital Asset Management LLC lifted its stake in Anavex Life Sciences Corp. (NASDAQ:AVXL) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,660 shares of the biotechnology company’s stock after purchasing an additional 6,250 shares during the quarter. Carnegie Capital Asset Management LLC owned about 0.09% of Anavex Life Sciences worth $686,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AVXL. State Street Corp boosted its position in shares of Anavex Life Sciences by 45.5% in the 1st quarter. State Street Corp now owns 5,577,256 shares of the biotechnology company’s stock worth $68,656,000 after purchasing an additional 1,743,222 shares in the last quarter. Millennium Management LLC boosted its position in shares of Anavex Life Sciences by 309.9% in the 4th quarter. Millennium Management LLC now owns 833,524 shares of the biotechnology company’s stock worth $7,718,000 after purchasing an additional 630,156 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Anavex Life Sciences in the 2nd quarter worth approximately $3,582,000. SG Americas Securities LLC bought a new stake in shares of Anavex Life Sciences in the 3rd quarter worth approximately $1,765,000. Finally, BlackRock Inc. boosted its position in shares of Anavex Life Sciences by 3.5% in the 2nd quarter. BlackRock Inc. now owns 5,938,968 shares of the biotechnology company’s stock worth $48,284,000 after purchasing an additional 201,318 shares in the last quarter. 31.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright lowered their price objective on Anavex Life Sciences from $54.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, January 3rd.

Insider Buying and Selling

In other news, CEO Christopher U. Missling sold 73,380 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $5.11, for a total transaction of $374,971.80. Following the transaction, the chief executive officer now directly owns 1,250,210 shares of the company’s stock, valued at approximately $6,388,573.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 11.60% of the stock is currently owned by corporate insiders.

Anavex Life Sciences Price Performance

Anavex Life Sciences stock opened at $4.12 on Wednesday. Anavex Life Sciences Corp. has a one year low of $4.06 and a one year high of $10.45. The business’s fifty day moving average is $5.05 and its 200 day moving average is $6.14. The stock has a market capitalization of $338.29 million, a PE ratio of -7.63 and a beta of 0.56.

Anavex Life Sciences (NASDAQ:AVXL) last posted its earnings results on Wednesday, February 7th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.04. As a group, sell-side analysts expect that Anavex Life Sciences Corp. will post -0.57 EPS for the current fiscal year.

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.