Investors Buy Shares of AveXis (AVXS) on Weakness

Traders purchased shares of AveXis Inc (NASDAQ:AVXS) on weakness during trading hours on Wednesday. $86.39 million flowed into the stock on the tick-up and $63.17 million flowed out of the stock on the tick-down, for a money net flow of $23.22 million into the stock. Of all companies tracked, AveXis had the 16th highest net in-flow for the day. AveXis traded down ($0.14) for the day and closed at $104.87

A number of analysts have commented on the company. Credit Suisse Group assumed coverage on AveXis in a report on Wednesday. They issued an “outperform” rating and a $134.00 target price for the company. Royal Bank of Canada reissued a “hold” rating and issued a $92.00 target price on shares of AveXis in a report on Tuesday, January 9th. Zacks Investment Research raised AveXis from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. BMO Capital Markets reissued a “buy” rating on shares of AveXis in a report on Monday, January 8th. Finally, Canaccord Genuity set a $110.00 target price on AveXis and gave the stock a “hold” rating in a report on Friday, January 5th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $112.84.

The stock has a market capitalization of $3,350.00 and a P/E ratio of -18.79.

AveXis (NASDAQ:AVXS) last released its quarterly earnings results on Thursday, November 9th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.48) by ($0.04). During the same period in the previous year, the firm posted ($0.87) earnings per share. equities research analysts predict that AveXis Inc will post -6.23 earnings per share for the current year.

In related news, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $101.26, for a total transaction of $180,242.80. Following the transaction, the vice president now directly owns 1,780 shares in the company, valued at $180,242.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian K. Kaspar sold 15,000 shares of AveXis stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $109.75, for a total value of $1,646,250.00. Following the transaction, the insider now owns 1,808,386 shares in the company, valued at $198,470,363.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,340 shares of company stock worth $5,318,845. Company insiders own 18.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in AveXis by 13.1% during the second quarter. FMR LLC now owns 4,705,433 shares of the company’s stock valued at $386,598,000 after purchasing an additional 544,475 shares in the last quarter. BlackRock Inc. lifted its position in AveXis by 34.7% during the second quarter. BlackRock Inc. now owns 2,301,229 shares of the company’s stock valued at $189,069,000 after purchasing an additional 592,843 shares in the last quarter. Vanguard Group Inc. lifted its position in AveXis by 31.8% during the second quarter. Vanguard Group Inc. now owns 1,575,205 shares of the company’s stock valued at $129,419,000 after purchasing an additional 380,396 shares in the last quarter. Janus Henderson Group PLC lifted its position in AveXis by 52.2% during the third quarter. Janus Henderson Group PLC now owns 1,027,221 shares of the company’s stock valued at $99,363,000 after purchasing an additional 352,456 shares in the last quarter. Finally, State Street Corp lifted its position in AveXis by 104.2% during the second quarter. State Street Corp now owns 1,000,001 shares of the company’s stock valued at $82,163,000 after purchasing an additional 510,189 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

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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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