AveXis, Inc. (NASDAQ:AVXS) Position Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in shares of AveXis, Inc. (NASDAQ:AVXS) by 36.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,300 shares of the company’s stock after selling 19,198 shares during the period. JPMorgan Chase & Co.’s holdings in AveXis were worth $2,532,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC bought a new position in shares of AveXis during the first quarter worth approximately $201,000. Candriam Luxembourg S.C.A. bought a new position in shares of AveXis during the first quarter worth approximately $1,901,000. Opus Point Partners Management LLC bought a new position in shares of AveXis during the fourth quarter worth approximately $239,000. Swiss National Bank boosted its position in shares of AveXis by 3.0% in the first quarter. Swiss National Bank now owns 27,400 shares of the company’s stock worth $2,083,000 after buying an additional 800 shares in the last quarter. Finally, Pictet Asset Management Ltd. boosted its position in shares of AveXis by 44.9% in the first quarter. Pictet Asset Management Ltd. now owns 153,606 shares of the company’s stock worth $11,679,000 after buying an additional 47,588 shares in the last quarter. 90.68% of the stock is currently owned by hedge funds and other institutional investors.

AveXis, Inc. (NASDAQ AVXS) traded down 1.84% during mid-day trading on Tuesday, hitting $95.26. 335,016 shares of the stock traded hands. The stock has a 50-day moving average price of $80.67 and a 200-day moving average price of $71.89. AveXis, Inc. has a 12 month low of $31.55 and a 12 month high of $97.65. The stock’s market cap is $2.65 billion.

AveXis (NASDAQ:AVXS) last issued its earnings results on Thursday, May 11th. The company reported ($1.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.94) by $0.13. During the same period in the prior year, the business earned ($1.24) EPS. On average, equities analysts forecast that AveXis, Inc. will post ($4.27) earnings per share for the current year.

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AVXS has been the topic of a number of recent analyst reports. Jefferies Group LLC restated a “buy” rating and set a $92.00 price objective on shares of AveXis in a research report on Wednesday, April 19th. Citigroup Inc. started coverage on AveXis in a research report on Tuesday, May 23rd. They issued a “buy” rating and a $90.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $95.00 price target on shares of AveXis in a research report on Friday, June 16th. Zacks Investment Research upgraded AveXis from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Morgan Stanley began coverage on shares of AveXis in a research note on Thursday, August 3rd. They issued an “overweight” rating and a $118.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $93.60.

In other AveXis news, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $70.91, for a total transaction of $126,219.80. Following the sale, the vice president now directly owns 1,780 shares of the company’s stock, valued at $126,219.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 5,340 shares of company stock worth $434,872 over the last three months. 18.60% of the stock is owned by corporate insiders.

About AveXis

AveXis, Inc is a clinical-stage gene therapy company. The Company operates through the developing and commercializing gene therapy treatments for patients suffering from neurological genetic diseases segment. The Company’s product candidate, AVXS-101, is its gene therapy product candidate that is in a Phase I clinical trial for the treatment of spinal muscular atrophy (SMA) Type 1, which is a genetic disorder characterized by motor neuron loss and associated muscle deterioration.

Institutional Ownership by Quarter for AveXis (NASDAQ:AVXS)

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