VHCP Management II LLC Has $76,959,000 Position in AveXis, Inc. (AVXS)
VHCP Management II LLC continued to hold its stake in shares of AveXis, Inc. (NASDAQ:AVXS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,035,657 shares of the company’s stock at the end of the second quarter. AveXis makes up 30.7% of VHCP Management II LLC’s investment portfolio, making the stock its largest position. VHCP Management II LLC owned about 3.73% of AveXis worth $76,959,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Parametric Portfolio Associates LLC boosted its holdings in shares of AveXis by 2.9% in the second quarter. Parametric Portfolio Associates LLC now owns 20,943 shares of the company’s stock worth $1,721,000 after buying an additional 598 shares during the period. BB Biotech AG boosted its holdings in shares of AveXis by 21.0% in the second quarter. BB Biotech AG now owns 402,800 shares of the company’s stock worth $33,094,000 after buying an additional 70,000 shares during the period. FMR LLC boosted its holdings in shares of AveXis by 13.1% in the second quarter. FMR LLC now owns 4,705,433 shares of the company’s stock worth $386,598,000 after buying an additional 544,475 shares during the period. Vanguard Group Inc. boosted its holdings in shares of AveXis by 31.8% in the second quarter. Vanguard Group Inc. now owns 1,575,205 shares of the company’s stock worth $129,419,000 after buying an additional 380,396 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of AveXis by 140.6% in the second quarter. Northern Trust Corp now owns 249,813 shares of the company’s stock worth $20,525,000 after buying an additional 145,996 shares during the period. Institutional investors own 94.71% of the company’s stock.
Several brokerages have commented on AVXS. Sanford C. Bernstein began coverage on shares of AveXis in a report on Thursday, July 27th. They issued an “outperform” rating and a $108.00 target price for the company. Jefferies Group LLC reissued a “buy” rating on shares of AveXis in a research report on Wednesday, June 28th. Nomura initiated coverage on shares of AveXis in a research report on Monday, August 28th. They issued a “reduce” rating and a $52.00 price target for the company. Instinet initiated coverage on shares of AveXis in a research report on Tuesday, August 29th. They issued a “reduce” rating and a $52.00 price target for the company. Finally, Barclays PLC initiated coverage on shares of AveXis in a research report on Wednesday, September 6th. They issued an “overweight” rating and a $124.00 price target for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $99.29.
In related news, VP Sukumar Nagendran sold 1,780 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $91.52, for a total value of $162,905.60. Following the completion of the transaction, the vice president now directly owns 1,780 shares in the company, valued at approximately $162,905.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 5,340 shares of company stock valued at $474,637 over the last quarter. 18.60% of the stock is owned by insiders.
Shares of AveXis, Inc. (NASDAQ AVXS) traded down 4.19% during trading on Friday, reaching $92.11. 360,473 shares of the company traded hands. The stock’s market cap is $2.94 billion. AveXis, Inc. has a 12 month low of $38.46 and a 12 month high of $99.45. The stock’s 50 day moving average price is $93.16 and its 200-day moving average price is $80.70.
AveXis (NASDAQ:AVXS) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($2.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($1.10). During the same quarter last year, the business posted ($0.68) earnings per share. On average, equities research analysts expect that AveXis, Inc. will post ($6.04) EPS for the current fiscal year.
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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