JPMorgan Chase & Co. boosted its holdings in shares of AveXis (NASDAQ:AVXS) by 62.4% in the 1st quarter, Holdings Channel reports. The firm owned 111,015 shares of the company’s stock after buying an additional 42,675 shares during the period. JPMorgan Chase & Co.’s holdings in AveXis were worth $13,719,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Artal Group S.A. lifted its stake in AveXis by 6.7% during the first quarter. Artal Group S.A. now owns 160,000 shares of the company’s stock worth $19,773,000 after purchasing an additional 10,000 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its stake in AveXis by 36.8% during the first quarter. Candriam Luxembourg S.C.A. now owns 39,000 shares of the company’s stock worth $4,820,000 after purchasing an additional 10,500 shares during the last quarter. Federated Investors Inc. PA bought a new stake in AveXis during the first quarter worth $2,501,000. BlackRock Inc. lifted its stake in AveXis by 4.2% during the first quarter. BlackRock Inc. now owns 2,544,720 shares of the company’s stock worth $314,476,000 after purchasing an additional 102,710 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in AveXis by 17.0% during the first quarter. Northern Trust Corp now owns 340,895 shares of the company’s stock worth $42,127,000 after purchasing an additional 49,596 shares during the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded AveXis from a “strong sell” rating to a “hold” rating in a research note on Monday, May 7th. Chardan Capital cut AveXis from a “buy” rating to a “neutral” rating in a research note on Friday, April 13th. Jefferies Financial Group cut AveXis from a “buy” rating to a “hold” rating in a research note on Wednesday, April 18th. Citigroup cut AveXis from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 10th. Finally, Barclays cut AveXis from an “overweight” rating to an “equal weight” rating and set a $152.00 target price for the company. in a research note on Thursday, April 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $123.90.
Shares of AveXis opened at $217.83 on Wednesday, according to MarketBeat.com. AveXis has a 52 week low of $65.54 and a 52 week high of $217.94. The firm has a market capitalization of $8.02 billion, a PE ratio of -29.92 and a beta of 1.55.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Wednesday, May 9th. The company reported ($6.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($3.32) by ($2.88). sell-side analysts predict that AveXis will post -9.69 earnings per share for the current fiscal year.
In related news, insider Brian K. Kaspar sold 15,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $119.50, for a total transaction of $1,792,500.00. Following the completion of the transaction, the insider now directly owns 1,767,766 shares of the company’s stock, valued at approximately $211,248,037. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP James J. Litalien sold 5,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $119.44, for a total value 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. 18.60% of the stock is currently owned by corporate insiders.
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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