BB Biotech AG Increases Stake in AveXis, Inc. (AVXS)
BB Biotech AG grew its stake in shares of AveXis, Inc. (NASDAQ:AVXS) by 21.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 402,800 shares of the company’s stock after buying an additional 70,000 shares during the period. AveXis accounts for approximately 1.0% of BB Biotech AG’s holdings, making the stock its 20th biggest holding. BB Biotech AG owned approximately 1.45% of AveXis worth $33,094,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in AVXS. Quantbot Technologies LP purchased a new stake in shares of AveXis during the 1st quarter valued at $117,000. Botty Investors LLC purchased a new stake in shares of AveXis during the 2nd quarter valued at $123,000. Virginia Retirement Systems ET AL purchased a new stake in shares of AveXis during the 1st quarter valued at $205,000. Seven Bridges Advisors LLC grew its stake in shares of AveXis by 49.4% during the 2nd quarter. Seven Bridges Advisors LLC now owns 2,557 shares of the company’s stock valued at $210,000 after buying an additional 846 shares during the period. Finally, Amalgamated Bank purchased a new stake in shares of AveXis during the 2nd quarter valued at $219,000. 94.71% of the stock is owned by institutional investors.
Shares of AveXis, Inc. (AVXS) traded down 3.62% during mid-day trading on Friday, reaching $92.66. 95,426 shares of the company were exchanged. The firm’s 50-day moving average is $93.16 and its 200-day moving average is $80.70. AveXis, Inc. has a 12 month low of $38.46 and a 12 month high of $99.45. The company’s market capitalization is $2.96 billion.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($2.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($1.10). During the same period in the prior year, the business posted ($0.68) EPS. On average, equities analysts forecast that AveXis, Inc. will post ($6.04) earnings per share for the current fiscal year.
Several analysts have recently issued reports on AVXS shares. Nomura started coverage on shares of AveXis in a research note on Monday, August 28th. They set a “reduce” rating and a $52.00 price objective for the company. Jefferies Group LLC reissued a “buy” rating and set a $92.00 price objective on shares of AveXis in a research note on Thursday, May 25th. Instinet started coverage on shares of AveXis in a research note on Tuesday, August 29th. They set a “reduce” rating and a $52.00 price objective for the company. Barclays PLC started coverage on shares of AveXis in a research note on Wednesday, September 6th. They set an “overweight” rating and a $124.00 price objective for the company. Finally, Zacks Investment Research raised shares of AveXis from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $99.29.
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In other news, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $81.88, for a total transaction of $145,746.40. Following the transaction, the vice president now owns 1,780 shares in the company, valued at approximately $145,746.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 5,340 shares of company stock worth $474,637. 18.60% of the stock is currently owned by company insiders.
AveXis Company Profile
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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