UBS downgraded shares of AveXis (NASDAQ:AVXS) from a buy rating to a neutral rating in a report issued on Thursday morning, www.benzinga.com reports.
Several other research firms also recently weighed in on AVXS. Citigroup downgraded shares of AveXis from a buy rating to a neutral rating in a research note on Tuesday, April 10th. Credit Suisse Group reaffirmed a neutral rating and set a $139.00 price target on shares of AveXis in a research note on Wednesday, April 11th. Nomura raised shares of AveXis from a reduce rating to a neutral rating in a research note on Monday, April 9th. Morgan Stanley downgraded shares of AveXis from an overweight rating to a hold rating in a research note on Monday, April 9th. Finally, BidaskClub raised shares of AveXis from a buy rating to a strong-buy rating in a research note on Saturday, March 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $123.90.
AveXis stock opened at $211.14 on Thursday. AveXis has a fifty-two week low of $65.54 and a fifty-two week high of $213.70. The company has a market cap of $7,819.40, a PE ratio of -29.00 and a beta of 2.06.
AveXis (NASDAQ:AVXS) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($2.55) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.64) by ($0.91). sell-side analysts expect that AveXis will post -7.63 EPS for the current fiscal year.
In other AveXis news, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $126.19, for a total value of $224,618.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sean P. Nolan sold 10,000 shares of AveXis stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at $1,294,700. The disclosure for this sale can be found here. Insiders sold 68,780 shares of company stock valued at $8,341,178 in the last three months. 18.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 purchasing an additional 453 shares during the last quarter. QS Investors LLC purchased a new position in AveXis in the fourth quarter worth $156,000. Cubist Systematic Strategies LLC grew its holdings in 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 purchasing an additional 1,577 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in AveXis in the fourth quarter worth $251,000. Finally, Vident Investment Advisory LLC purchased a new position in AveXis in the third quarter worth $245,000. 82.43% of the stock is currently owned by institutional investors and hedge funds.
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AveXis Company Profile
AveXis, Inc, a clinical-stage gene therapy company, engages in developing and commercializing treatments for patients suffering from rare and life-threatening neurological genetic diseases. Its initial product candidate is AVXS-101, a gene therapy product candidate that has completed Phase I clinical trial for the treatment of spinal muscular atrophy Type 1.
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