Stock Traders Purchase Large Volume of Axovant Sciences Put Options (AXON)

Axovant Sciences Ltd (NASDAQ:AXON) was the recipient of unusually large options trading on Thursday. Traders purchased 6,684 put options on the stock. This is an increase of approximately 2,511% compared to the average daily volume of 256 put options.

AXON has been the subject of a number of recent analyst reports. BidaskClub lowered Axovant Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Chardan Capital reissued a “sell” rating and issued a $3.00 target price on shares of Axovant Sciences in a research report on Saturday, September 23rd. Zacks Investment Research raised Axovant Sciences from a “hold” rating to a “strong-buy” rating and set a $8.00 target price for the company in a research report on Monday, October 9th. Robert W. Baird reissued a “hold” rating and issued a $6.00 target price on shares of Axovant Sciences in a research report on Wednesday, November 1st. Finally, Oppenheimer reissued a “buy” rating and issued a $30.00 target price on shares of Axovant Sciences in a research report on Monday, September 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Axovant Sciences presently has an average rating of “Hold” and a consensus target price of $14.18.

Large investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. purchased a new stake in shares of Axovant Sciences during the 3rd quarter valued at about $101,000. Bank of America Corp DE increased its position in shares of Axovant Sciences by 38.9% during the 1st quarter. Bank of America Corp DE now owns 7,396 shares of the biotechnology company’s stock valued at $111,000 after purchasing an additional 2,072 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Axovant Sciences during the 3rd quarter valued at about $117,000. Legal & General Group Plc increased its position in shares of Axovant Sciences by 20.2% during the 2nd quarter. Legal & General Group Plc now owns 6,955 shares of the biotechnology company’s stock valued at $162,000 after purchasing an additional 1,168 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Axovant Sciences by 38.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 10,041 shares of the biotechnology company’s stock valued at $233,000 after purchasing an additional 2,789 shares during the last quarter. 96.93% of the stock is owned by institutional investors and hedge funds.

Axovant Sciences (AXON) opened at $2.31 on Tuesday. Axovant Sciences has a 52-week low of $2.30 and a 52-week high of $27.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.94 and a quick ratio of 5.94. The firm has a market capitalization of $248.81 and a PE ratio of -1.00.

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About Axovant Sciences

Axovant Sciences Ltd. is a clinical-stage biopharmaceutical company. The Company is focused on acquiring, developing and commercializing therapeutics for the treatment of dementia, including Alzheimer’s disease and Lewy body dementia. The Company intends to develop a pipeline of product candidates to address the cognitive, functional and behavioral aspects of dementia and related neurological disorders.

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