American International Group Inc. increased its position in shares of AveXis, Inc. (NASDAQ:AVXS) by 26.7% during the first quarter, according to its most recent Form 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.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS Asset Management Americas Inc. bought a new position in shares of AveXis during the first quarter worth approximately $297,000. Swiss National Bank raised its position in shares of 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. Pictet Asset Management Ltd. raised its position in shares of 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. Bank of New York Mellon Corp raised its position in shares of AveXis by 27.8% in the first quarter. Bank of New York Mellon Corp now owns 62,922 shares of the company’s stock worth $4,784,000 after buying an additional 13,691 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of AveXis by 30.2% in the first quarter. Russell Investments Group Ltd. now owns 17,550 shares of the company’s stock worth $1,335,000 after buying an additional 4,067 shares in the last quarter. 91.85% of the stock is owned by institutional investors and hedge funds.
Shares of AveXis, Inc. (NASDAQ:AVXS) traded up 1.10% during mid-day trading on Friday, reaching $92.58. 167,607 shares of the company’s stock traded hands. The stock’s market cap is $2.96 billion. AveXis, Inc. has a 12 month low of $32.31 and a 12 month high of $97.77. The firm has a 50 day moving average price of $87.50 and a 200-day moving average price of $75.29.
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A number of research analysts have recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $118.00 price objective on shares of AveXis in a research report on Wednesday, August 9th. Evercore ISI began coverage on shares of AveXis in a research note on Wednesday. They issued an “outperform” rating and a $120.00 target price on the stock. Chardan Capital reissued a “buy” rating and issued a $130.00 target price (up previously from $102.50) on shares of AveXis in a research note on Friday, August 11th. BMO Capital Markets reissued a “buy” rating and issued a $123.00 target price on shares of AveXis in a research note on Friday, August 11th. Finally, Sanford C. Bernstein began coverage on shares of AveXis in a research note on Thursday, July 27th. They issued an “outperform” rating and a $108.00 target price on the stock. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $102.45.
In related news, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $81.88, for a total transaction of $145,746.40. Following the sale, the vice president now directly owns 1,780 shares of the company’s stock, valued at approximately $145,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 5,340 shares of company stock worth $434,872 over the last ninety days. 18.60% of the stock is currently owned by insiders.
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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