Anavex Life Sciences Corp. (NASDAQ:AVXL) was down 6.4% during mid-day trading on Tuesday . The company traded as low as $4.03 and last traded at $4.07. Approximately 701,013 shares changed hands during mid-day trading, an increase of 93% from the average daily volume of 362,861 shares. The stock had previously closed at $4.35.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Anavex Life Sciences Corp. from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a research report on Monday, August 28th. Maxim Group set a $15.00 price objective on shares of Anavex Life Sciences Corp. and gave the stock a “buy” rating in a research report on Monday, August 7th. Noble Financial restated a “buy” rating and issued a $15.00 price objective on shares of Anavex Life Sciences Corp. in a research report on Friday, September 29th. Finally, ValuEngine lowered Anavex Life Sciences Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th.

Anavex Life Sciences Corp. (NASDAQ:AVXL) last announced its earnings results on Monday, August 7th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). research analysts forecast that Anavex Life Sciences Corp. will post -0.36 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in AVXL. Bank of New York Mellon Corp increased its holdings in shares of Anavex Life Sciences Corp. by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 111,880 shares of the biotechnology company’s stock valued at $642,000 after purchasing an additional 5,826 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Anavex Life Sciences Corp. in the first quarter valued at about $105,000. American International Group Inc. increased its holdings in shares of Anavex Life Sciences Corp. by 7.1% in the first quarter. American International Group Inc. now owns 20,103 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,329 shares during the period. Vanguard Group Inc. increased its holdings in shares of Anavex Life Sciences Corp. by 13.1% in the first quarter. Vanguard Group Inc. now owns 1,485,681 shares of the biotechnology company’s stock valued at $8,528,000 after purchasing an additional 171,577 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Anavex Life Sciences Corp. by 16.8% in the first quarter. Geode Capital Management LLC now owns 276,974 shares of the biotechnology company’s stock valued at $1,589,000 after purchasing an additional 39,934 shares during the period. 24.26% of the stock is currently owned by institutional investors and hedge funds.

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About Anavex Life Sciences Corp.

Anavex Life Sciences Corp., is a clinical-stage biopharmaceutical company engaged in the development of drug candidates. The Company’s lead compounds include ANAVEX 2-73, ANAVEX PLUS, a combination of ANAVEX 2-73 with donepezil (Aricept), ANAVEX 19-144, ANAVEX 1-41, ANAVEX 7-1037, ANAVEX 3-71, ANAVEX 1079, ANAVEX 1519 and ANAVEX 1066 being developed to treat Alzheimer’s disease and other central nervous system (CNS) diseases.

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