Prudential Financial Inc. Invests $109,000 in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Prudential Financial Inc. acquired a new stake in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 10,160 shares of the biotechnology company’s stock, valued at approximately $109,000.

A number of other institutional investors have also added to or reduced their stakes in AVXL. Essential Planning LLC. bought a new stake in shares of Anavex Life Sciences during the fourth quarter valued at about $4,437,000. Virtu Financial LLC purchased a new position in Anavex Life Sciences during the fourth quarter valued at approximately $967,000. Barclays PLC increased its holdings in Anavex Life Sciences by 70.4% during the 3rd quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock worth $882,000 after acquiring an additional 64,101 shares during the period. Geode Capital Management LLC lifted its stake in Anavex Life Sciences by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock worth $10,699,000 after purchasing an additional 51,946 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new stake in Anavex Life Sciences in the 4th quarter worth approximately $291,000. Hedge funds and other institutional investors own 31.55% of the company’s stock.

Anavex Life Sciences Price Performance

Shares of AVXL opened at $8.86 on Friday. Anavex Life Sciences Corp. has a 1-year low of $3.25 and a 1-year high of $14.44. The company has a market capitalization of $753.67 million, a P/E ratio of -16.11 and a beta of 0.80. The firm’s 50 day simple moving average is $8.70 and its 200 day simple moving average is $8.52.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.03. On average, equities analysts anticipate that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

AVXL has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $42.00 price target on shares of Anavex Life Sciences in a research report on Monday, April 7th. D. Boral Capital restated a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a research report on Monday, April 7th.

About Anavex Life Sciences

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.