American International Group Inc. boosted its position in shares of AveXis, Inc. (NASDAQ:AVXS) by 26.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,521 shares of the company’s stock after buying an additional 742 shares during the period. American International Group Inc.’s holdings in AveXis were worth $268,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of AVXS. Quantitative Systematic Strategies LLC purchased a new stake in AveXis during the first quarter worth about $201,000. Candriam Luxembourg S.C.A. purchased a new stake in AveXis during the first quarter worth about $1,901,000. Opus Point Partners Management LLC purchased a new stake in AveXis during the fourth quarter worth about $239,000. Swiss National Bank raised its stake in AveXis by 3.0% in the first quarter. Swiss National Bank now owns 27,400 shares of the company’s stock worth $2,083,000 after buying an additional 800 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in AveXis by 44.9% in the first quarter. Pictet Asset Management Ltd. now owns 153,606 shares of the company’s stock worth $11,679,000 after buying an additional 47,588 shares in the last quarter. Institutional investors own 90.68% of the company’s stock.
Shares of AveXis, Inc. (NASDAQ AVXS) opened at 89.49 on Friday. The company’s market cap is $2.49 billion. The company has a 50 day moving average of $85.66 and a 200-day moving average of $73.89. AveXis, Inc. has a 52 week low of $32.31 and a 52 week high of $97.77.
AveXis (NASDAQ:AVXS) last issued its earnings results on Thursday, August 10th. The company reported ($2.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by $1.10. During the same quarter last year, the business posted ($0.68) earnings per share. On average, equities research analysts expect that AveXis, Inc. will post ($4.36) earnings per share for the current fiscal year.
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A number of analysts have recently issued reports on AVXS shares. BMO Capital Markets reiterated an “outperform” rating and set a $95.00 price objective on shares of AveXis in a research note on Friday, June 16th. Jefferies Group LLC reiterated a “buy” rating on shares of AveXis in a research note on Wednesday, June 28th. Morgan Stanley reiterated an “overweight” rating and set a $118.00 price objective on shares of AveXis in a research note on Wednesday. Citigroup Inc. set a $100.00 price target on shares of AveXis and gave the stock a “buy” rating in a research note on Thursday, June 15th. Finally, Zacks Investment Research upgraded shares of AveXis from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $100.70.
In related news, VP Sukumar Nagendran sold 1,780 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $70.91, for a total value of $126,219.80. Following the completion of the transaction, the vice president now directly owns 1,780 shares in the company, valued at $126,219.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 5,340 shares of company stock valued at $434,872 over the last 90 days. 18.60% of the stock is currently owned by corporate insiders.
AveXis Company Profile
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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