AveXis (AVXS) Upgraded to “Hold” at Zacks Investment Research

AveXis (NASDAQ:AVXS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “AveXis, Inc. is a gene therapy company which develops and commercializes treatments for neurological genetic diseases primarily in United States. The Company’s product candidate consists of AVXS-101 which is in clinical trial for the treatment of spinal muscular atrophy Type 1, the genetic cause of infant mortality. AveXis, Inc. is headquartered in Bannockburn, Illinois. “

Several other analysts also recently commented on the company. Bank of America dropped their price objective on AveXis from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. Chardan Capital reaffirmed a “buy” rating on shares of AveXis in a research note on Thursday, November 2nd. Canaccord Genuity initiated coverage on AveXis in a research note on Thursday, October 26th. They set a “hold” rating and a $110.00 price objective on the stock. Royal Bank of Canada raised their price objective on AveXis from $92.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Friday, November 10th. Finally, BidaskClub cut AveXis from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. AveXis currently has an average rating of “Buy” and an average price target of $111.94.

Shares of AveXis (AVXS) traded up $4.24 during trading on Tuesday, reaching $106.32. The company had a trading volume of 569,300 shares, compared to its average volume of 515,580. The firm has a market cap of $3,510.00 and a P/E ratio of -19.05. AveXis has a twelve month low of $50.56 and a twelve month high of $116.15.

AveXis (NASDAQ:AVXS) last issued its quarterly earnings data on Thursday, November 9th. The company reported ($1.52) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.48) by ($0.04). During the same period last year, the business earned ($0.87) earnings per share. equities analysts forecast that AveXis will post -6.23 EPS for the current fiscal year.

In other news, insider Brian K. Kaspar sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $109.75, for a total value of $1,646,250.00. Following the completion of the transaction, the insider now owns 1,808,386 shares in the company, valued at approximately $198,470,363.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sukumar Nagendran sold 1,780 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $109.72, for a total value of $195,301.60. Following the completion of the transaction, the vice president now owns 1,780 shares of the company’s stock, valued at approximately $195,301.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,340 shares of company stock valued at $5,318,845. Corporate insiders own 18.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. California Public Employees Retirement System bought a new position in shares of AveXis in the 3rd quarter valued at about $570,000. Cubist Systematic Strategies LLC grew its holdings in shares of AveXis by 688.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock valued at $175,000 after acquiring an additional 1,577 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of AveXis in the 3rd quarter valued at about $967,000. Perceptive Advisors LLC grew its holdings in shares of AveXis by 147.5% in the 3rd quarter. Perceptive Advisors LLC now owns 671,181 shares of the company’s stock valued at $64,923,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of AveXis by 52.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,027,221 shares of the company’s stock valued at $99,363,000 after acquiring an additional 352,456 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

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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.

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