Anavex Life Sciences Corp. (NASDAQ:AVXL) Shares Sold by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC reduced its position in Anavex Life Sciences Corp. (NASDAQ:AVXL – Get Rating) by 36.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,500 shares of the biotechnology company’s stock after selling 12,870 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Anavex Life Sciences were worth $277,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in Anavex Life Sciences in the 4th quarter valued at $304,000. Commonwealth Equity Services LLC grew its holdings in Anavex Life Sciences by 75.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 74,424 shares of the biotechnology company’s stock valued at $1,290,000 after buying an additional 32,109 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Anavex Life Sciences in the 4th quarter valued at $343,000. DekaBank Deutsche Girozentrale purchased a new stake in Anavex Life Sciences in the 4th quarter valued at $868,000. Finally, Arizona State Retirement System grew its holdings in Anavex Life Sciences by 6.8% in the 4th quarter. Arizona State Retirement System now owns 19,358 shares of the biotechnology company’s stock valued at $336,000 after buying an additional 1,234 shares in the last quarter. 29.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Anavex Life Sciences

In related news, Director Athanasios Skarpelos sold 50,000 shares of the stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $9.06, for a total transaction of $453,000.00. Following the transaction, the director now owns 1,306,458 shares of the company’s stock, valued at approximately $11,836,509.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 11.00% of the company’s stock.

Anavex Life Sciences Trading Up 7.7 %

NASDAQ AVXL opened at $11.66 on Friday. Anavex Life Sciences Corp. has a twelve month low of $7.13 and a twelve month high of $23.73. The stock has a fifty day simple moving average of $10.17 and a 200-day simple moving average of $10.63.

Anavex Life Sciences (NASDAQ:AVXL – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. During the same period in the previous year, the firm earned ($0.12) EPS. As a group, equities research analysts expect that Anavex Life Sciences Corp. will post -0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank began coverage on Anavex Life Sciences in a report on Thursday, June 23rd. They issued a “buy” rating and a $40.00 target price for the company.

Anavex Life Sciences Profile

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Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of drug candidates for the treatment of central nervous system (CNS) diseases. Its lead drug candidate is ANAVEX 2-73, which is in Phase III clinical trial for the treatment of Alzheimer's disease; Phase III clinical trial to treat pediatric patients with Rett syndrome; Phase II clinical trial for the treatment of Parkinson's disease; and preclinical clinical trials to treat epilepsy, infantile spasms, Fragile X syndrome, Angelman syndrome, multiple sclerosis, and tuberous sclerosis complex.