Paul B. Manning Sells 289,855 Shares of AveXis Inc. (AVXS) Stock
AveXis Inc. (NASDAQ:AVXS) insider Paul B. Manning sold 289,855 shares of the stock in a transaction on Tuesday, September 13th. The shares were 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 through the SEC website.
Shares of AveXis Inc. (NASDAQ:AVXS) opened at 44.36 on Tuesday. The stock’s market cap is $1.02 billion. The firm has a 50-day moving average price of $37.22 and a 200-day moving average price of $33.85. AveXis Inc. has a 52 week low of $17.40 and a 52 week high of $47.76.
AveXis (NASDAQ:AVXS) last released its quarterly earnings results on Thursday, August 11th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.77) by $0.09. On average, equities analysts anticipate that AveXis Inc. will post ($3.35) earnings per share for the current year.
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 valued at about $106,000. Nationwide Fund Advisors purchased a new position in AveXis during the second quarter valued at about $120,000. TD Asset Management Inc. purchased a new position in AveXis during the second quarter valued at about $259,000. Teachers Advisors Inc. raised its position in AveXis by 74.1% in the second quarter. Teachers Advisors Inc. now owns 7,524 shares of the company’s stock valued at $286,000 after buying an additional 3,202 shares in the last quarter. Finally, TIAA CREF Investment Management LLC purchased a new position in AveXis during the first quarter valued at about $253,000. 54.46% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on AVXS. Zacks Investment Research upgraded AveXis from a “sell” rating to a “hold” rating in a research note on Thursday, June 9th. Jefferies Group lowered AveXis from a “buy” rating to a “hold” rating and upped their price objective for the stock from $39.00 to $42.00 in a research note on Wednesday, June 22nd. They noted that the move was a valuation call. Finally, Wells Fargo & Co. upgraded AveXis from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 17th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. AveXis presently has an average rating of “Buy” and a consensus price target of $47.00.
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.
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