AveXis (NASDAQ:AVXS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “AveXis, Inc. is a gene therapy company which develops and commercializes treatments for neurological genetic diseases primarily in United States. The Company’s product candidate consists of AVXS-101 which is in clinical trial for the treatment of spinal muscular atrophy Type 1, the genetic cause of infant mortality. AveXis, Inc. is headquartered in Bannockburn, Illinois. “
AVXS has been the subject of several other research reports. BidaskClub raised shares of AveXis from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $144.00 price target (up previously from $110.00) on shares of AveXis in a research report on Tuesday, February 20th. Mizuho set a $147.00 price target on shares of AveXis and gave the stock a “buy” rating in a research report on Wednesday, March 14th. Chardan Capital reaffirmed a “buy” rating and issued a $135.00 price target on shares of AveXis in a research report on Friday, January 5th. Finally, UBS set a $122.00 price target on shares of AveXis and gave the stock a “buy” rating in a research report on Friday, January 5th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $123.90.
Shares of AveXis (NASDAQ:AVXS) opened at $125.14 on Tuesday. AveXis has a 52-week low of $65.23 and a 52-week high of $138.46. The firm has a market cap of $4,563.87, a P/E ratio of -17.36 and a beta of 2.02.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($2.55) earnings per share for the quarter, missing the consensus estimate of ($1.64) by ($0.91). analysts predict that AveXis will post -7.63 earnings per share for the current year.
In related news, CEO Sean P. Nolan sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $129.47, for a total transaction of $1,294,700.00. Following the completion of the sale, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $1,294,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $126.19, for a total transaction of $224,618.20. The disclosure for this sale can be found here. Insiders have sold 65,560 shares of company stock valued at $7,793,030 in the last three months. 18.60% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AVXS. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of AveXis by 57.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,241 shares of the company’s stock worth $137,000 after buying an additional 453 shares during the last quarter. QS Investors LLC purchased a new position in shares of AveXis in the fourth quarter worth $156,000. Cubist Systematic Strategies LLC raised its holdings in shares of AveXis by 688.6% in the third quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock worth $175,000 after buying an additional 1,577 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of AveXis in the third quarter worth $200,000. Finally, Prudential Financial Inc. purchased a new position in shares of AveXis in the third quarter worth $224,000. 82.43% of the stock is 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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