Silvant Capital Management LLC Invests $298,000 in AveXis (AVXS) Stock

Silvant Capital Management LLC purchased a new stake in AveXis (NASDAQ:AVXS) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,408 shares of the company’s stock, valued at approximately $298,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVXS. California Public Employees Retirement System bought a new position in AveXis in the third quarter valued at approximately $570,000. Schwab Charles Investment Management Inc. raised its holdings in shares of AveXis by 1.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 109,902 shares of the company’s stock valued at $12,163,000 after purchasing an additional 1,389 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of AveXis by 0.5% in the fourth quarter. Jennison Associates LLC now owns 185,094 shares of the company’s stock valued at $20,484,000 after purchasing an additional 883 shares during the last quarter. 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 valued at $137,000 after purchasing an additional 453 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of AveXis by 16.6% in the fourth quarter. Victory Capital Management Inc. now owns 17,626 shares of the company’s stock valued at $1,951,000 after purchasing an additional 2,510 shares during the last quarter. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AveXis opened at $217.83 on Friday, according to Marketbeat Ratings. The firm has a market cap of $8.02 billion, a P/E ratio of -29.92 and a beta of 1.55. AveXis has a 1-year low of $65.54 and a 1-year high of $217.94.

AveXis (NASDAQ:AVXS) last issued its earnings results on Wednesday, May 9th. The company reported ($6.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($3.32) by ($2.88). analysts anticipate that AveXis will post -9.69 EPS for the current 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 transaction of $224,618.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James J. Litalien sold 5,000 shares of AveXis stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $119.44, for a total transaction of $597,200.00. Following the transaction, the vice president now directly owns 8,800 shares of the company’s stock, valued at $1,051,072. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,780 shares of company stock worth $5,801,268. 18.60% of the stock is owned by corporate insiders.

A number of analysts have recently issued reports on the stock. BidaskClub downgraded shares of AveXis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 20th. William Blair assumed coverage on shares of AveXis in a report on Monday, April 9th. They issued a “hold” rating on the stock. Mizuho downgraded shares of AveXis from a “buy” rating to a “neutral” rating in a report on Monday, April 9th. Jefferies Group downgraded shares of AveXis from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Finally, Morgan Stanley set a $129.00 price objective on shares of AveXis and gave the company a “buy” rating in a report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $123.90.

About AveXis

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.

Institutional Ownership by Quarter for AveXis (NASDAQ:AVXS)

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