Westfield Capital Management Co. LP purchased a new position in shares of AveXis, Inc. (NASDAQ:AVXS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 409,000 shares of the company’s stock, valued at approximately $39,563,000. Westfield Capital Management Co. LP owned approximately 1.28% of AveXis at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of AVXS. Teachers Advisors LLC boosted its position in AveXis by 2.6% during the first quarter. Teachers Advisors LLC now owns 54,217 shares of the company’s stock worth $4,122,000 after purchasing an additional 1,387 shares in the last quarter. Morgan Stanley boosted its position in AveXis by 8.4% during the first quarter. Morgan Stanley now owns 22,681 shares of the company’s stock worth $1,724,000 after purchasing an additional 1,758 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in AveXis by 7.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 54,865 shares of the company’s stock worth $4,172,000 after purchasing an additional 3,579 shares in the last quarter. Bank of Montreal Can boosted its position in AveXis by 7,058.8% during the second quarter. Bank of Montreal Can now owns 30,425 shares of the company’s stock worth $2,500,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of AveXis by 41.7% in the second quarter. Russell Investments Group Ltd. now owns 24,871 shares of the company’s stock valued at $2,043,000 after acquiring an additional 7,321 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.
In related news, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $97.25, for a total value of $173,105.00. Following the completion of the sale, the vice president now owns 1,780 shares of the company’s stock, valued at $173,105. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian K. Kaspar sold 15,000 shares of the stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $101.46, for a total value of $1,521,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,560 shares of company stock valued at $3,393,698. Insiders own 18.60% of the company’s stock.
AveXis (NASDAQ:AVXS) last posted its quarterly earnings results on Thursday, November 9th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.04). During the same quarter in the previous year, the business earned ($0.87) earnings per share. equities analysts forecast that AveXis, Inc. will post -6.23 EPS for the current fiscal year.
Several research firms have recently weighed in on AVXS. ValuEngine downgraded AveXis from a “hold” rating to a “sell” rating in a research report on Friday. Bank of America decreased their target price on AveXis from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Royal Bank Of Canada raised their target price on AveXis from $92.00 to $97.00 and gave the company a “sector perform” rating in a research report on Friday, November 10th. Chardan Capital restated a “buy” rating on shares of AveXis in a research report on Thursday, November 2nd. Finally, Zacks Investment Research downgraded AveXis from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $110.67.
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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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