Stock Traders Buy High Volume Call Options on Anavex Life Sciences (NASDAQ:AVXL)

Anavex Life Sciences Corp. (NASDAQ:AVXL – Get Rating) was the target of unusual options trading on Monday. Investors acquired 2,044 call options on the company. This is an increase of 8% from the average volume of 1,896 call options.

Anavex Life Sciences stock up 9.5%

Shares of NASDAQ AVXL traded at $1.01 in Monday’s midday session, hitting $11.61. The stock recorded a trading volume of 9,127 shares, compared to an average volume of 959,545 shares. The company has a market capitalization of $904.92 million, a PE ratio of -19.86 and a beta of 0.75. The stock has a 50-day simple moving average of $10.15 and a 200-day simple moving average of $10.08. Anavex Life Sciences has a 1-year low of $7.13 and a 1-year high of $23.73.

Anavex Life Sciences (NASDAQ:AVXL – Get Rating) last reported results on Tuesday, August 9. The biotech company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). In the same quarter last year, the company posted ($0.14) earnings per share. As a group, analysts expect Anavex Life Sciences to post -0.6 earnings per share for the current fiscal year.

Institutional investors weigh in on Anavex Life Sciences

Hedge funds and other institutional investors have recently changed their positions in the stock. Lazard Asset Management LLC acquired a new equity stake in Anavex Life Sciences in the second quarter worth approximately $26,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Anavex Life Sciences in the second quarter worth approximately $44,000. Quantbot Technologies LP acquired a new stake in shares of Anavex Life Sciences in the second quarter valued at approximately $64,000. Apella Capital LLC acquired a new equity stake in Anavex Life Sciences in the first quarter valued at approximately $124,000. Finally, Dana Investment Advisors Inc. acquired a new equity stake in Anavex Life Sciences in the first quarter valued at approximately $132,000. Institutional investors and hedge funds own 31.93% of the company’s shares.

A Wall Street analyst gives his opinion

AVXL has been the subject of a number of recent research reports. Berenberg Bank launched coverage on Anavex Life Sciences in a research note on Thursday, June 23. They issued a “buy” rating and a target price of $40.00 on the stock. StockNews.com launched coverage on Anavex Life Sciences in a research report on Wednesday, October 12. They put a “sell” mark on the stock.

Company Profile Anavex Life Sciences

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Anavex Life Sciences Corp., a clinical-stage biopharmaceutical company, is engaged 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 a 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.

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