AveXis Inc. (AVXS) Sees Strong Trading Volume
Shares of AveXis Inc. (NASDAQ:AVXS) saw an uptick in trading volume on Wednesday . 424,787 shares were traded during trading, an increase of 89% from the previous session’s volume of 225,219 shares.The stock last traded at $32.42 and had previously closed at $34.90.
Several brokerages recently weighed in on AVXS. Zacks Investment Research upgraded AveXis from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Goldman Sachs Group Inc. raised their price objective on AveXis from $28.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, May 13th. Jefferies Group downgraded AveXis from a “buy” rating to a “hold” rating and raised their price objective for the stock from $39.00 to $42.00 in a research report on Wednesday, June 22nd. They noted that the move was a valuation call. Wells Fargo & Co. started coverage on AveXis in a research report on Friday, July 15th. They issued a “market perform” rating for the company. Finally, Chardan Capital reiterated a “buy” rating and issued a $60.00 price objective on shares of AveXis in a research report on Monday, May 9th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $43.80.
The company’s market capitalization is $749.99 million. The company has a 50-day moving average of $38.22 and a 200-day moving average of $31.19.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Thursday, May 12th. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by $0.89. Analysts forecast that AveXis Inc. will post ($3.65) earnings per share for the current fiscal year.
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.