William Blair Reiterates “Buy” Rating for AveXis (AVXS)
AVXS has been the subject of a number of other reports. Canaccord Genuity set a $110.00 price objective on AveXis and gave the company a hold rating in a research note on Thursday, December 14th. Credit Suisse Group reiterated an outperform rating and set a $139.00 price objective (up from $134.00) on shares of AveXis in a research note on Wednesday, February 28th. Royal Bank of Canada reiterated a hold rating and set a $92.00 price objective on shares of AveXis in a research note on Tuesday, January 9th. BidaskClub downgraded AveXis from a hold rating to a sell rating in a research note on Thursday, December 14th. Finally, Mizuho started coverage on AveXis in a research note on Monday, February 12th. They set a buy rating and a $147.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. AveXis presently has a consensus rating of Buy and a consensus target price of $123.90.
AveXis (NASDAQ AVXS) opened at $133.80 on Tuesday. The stock has a market capitalization of $5,028.81, a P/E ratio of -18.56 and a beta of 2.02. AveXis has a 52 week low of $65.23 and a 52 week high of $138.46.
In other news, CEO Sean P. Nolan sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $129.47, for a total transaction of $1,294,700.00. Following the sale, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $1,294,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sukumar Nagendran sold 1,780 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $126.19, for a total value of $224,618.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,560 shares of company stock worth $7,793,030. 18.60% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of AveXis by 57.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,241 shares of the company’s stock worth $137,000 after acquiring an additional 453 shares in the last quarter. QS Investors LLC purchased a new stake in shares of AveXis during the 4th quarter worth approximately $156,000. Cubist Systematic Strategies LLC raised its holdings in shares of AveXis by 688.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock worth $175,000 after acquiring an additional 1,577 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of AveXis during the 3rd quarter worth approximately $200,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of AveXis during the 4th quarter worth approximately $251,000. 82.43% of the stock is currently owned by institutional investors and hedge funds.
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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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