Premier Path Wealth Partners LLC Trims Holdings in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Premier Path Wealth Partners LLC decreased its position in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) by 20.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the biotechnology company’s stock after selling 2,500 shares during the period. Premier Path Wealth Partners LLC’s holdings in Anavex Life Sciences were worth $86,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in shares of Anavex Life Sciences by 2.9% in the fourth quarter. Rhumbline Advisers now owns 123,699 shares of the biotechnology company’s stock worth $1,329,000 after purchasing an additional 3,498 shares in the last quarter. D.A. Davidson & CO. bought a new position in Anavex Life Sciences in the 4th quarter worth $122,000. Atria Wealth Solutions Inc. purchased a new stake in Anavex Life Sciences in the 4th quarter worth $291,000. Y Intercept Hong Kong Ltd bought a new stake in Anavex Life Sciences during the fourth quarter valued at about $243,000. Finally, Nwam LLC lifted its position in shares of Anavex Life Sciences by 0.3% in the fourth quarter. Nwam LLC now owns 913,051 shares of the biotechnology company’s stock valued at $9,806,000 after acquiring an additional 2,575 shares in the last quarter. Hedge funds and other institutional investors own 31.55% of the company’s stock.

Anavex Life Sciences Stock Performance

Shares of NASDAQ AVXL opened at $9.09 on Friday. The company has a market cap of $776.01 million, a P/E ratio of -16.53 and a beta of 0.68. Anavex Life Sciences Corp. has a 52-week low of $3.78 and a 52-week high of $14.44. The firm’s fifty day moving average is $8.46 and its two-hundred day moving average is $9.04.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. During the same period in the previous year, the business posted ($0.13) EPS. As a group, analysts forecast that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVXL. D. Boral Capital reiterated a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a research report on Monday, April 7th. HC Wainwright reaffirmed a “buy” rating and set a $42.00 price objective on shares of Anavex Life Sciences in a 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.