Shares of AveXis Inc. (NASDAQ:AVXS) were up 6.3% during trading on Monday after Jefferies Group raised their price target on the stock from $42.00 to $50.00. Jefferies Group currently has a buy rating on the stock. AveXis traded as high as $44.88 and last traded at $44.35, with a volume of 405,789 shares changing hands. The stock had previously closed at $41.72.

A number of other analysts have also issued reports on AVXS. Zacks Investment Research raised shares of AveXis from a “sell” rating to a “hold” rating in a research report on Thursday, May 26th. Wells Fargo & Co. began coverage on shares of AveXis in a research report on Friday, July 15th. They issued a “market perform” rating for the company. Finally, Chardan Capital reissued a “buy” rating and issued a $60.00 price target on shares of AveXis in a research report on Friday, August 12th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $47.00.

In related news, insider Paul B. Manning sold 289,855 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $34.50, for a total value of $9,999,997.50. The transaction was disclosed in a filing with the SEC, which is available at this link.

A number of institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. purchased a new position in AveXis during the second quarter worth approximately $106,000. Nationwide Fund Advisors purchased a new position in AveXis during the second quarter worth approximately $120,000. TIAA CREF Investment Management LLC purchased a new position in AveXis during the first quarter worth approximately $253,000. TD Asset Management Inc. purchased a new position in AveXis during the second quarter worth approximately $259,000. Finally, Teachers Advisors Inc. increased its position in AveXis by 74.1% in the second quarter. Teachers Advisors Inc. now owns 7,524 shares of the company’s stock worth $286,000 after buying an additional 3,202 shares in the last quarter. Hedge funds and other institutional investors own 54.46% of the company’s stock.

The stock’s market cap is $1.03 billion. The company has a 50-day moving average price of $37.48 and a 200-day moving average price of $34.03.

AveXis (NASDAQ:AVXS) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.68) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.77) by $0.09. Analysts expect that AveXis Inc. will post ($3.35) EPS for the current fiscal year.

AveXis Company Profile

AveXis, Inc, formerly Biolife Cell Bank, Inc, is a clinical-stage gene therapy company. The Company operates through 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.

5 Day Chart for NASDAQ:AVXS

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