Shares of AveXis Inc (NASDAQ:AVXS) fell 8.8% during trading on Thursday . The stock traded as low as $105.81 and last traded at $106.19. 610,915 shares were traded during trading, a decline of 13% from the average session volume of 705,019 shares. The stock had previously closed at $116.48.
Several research firms have commented on AVXS. Royal Bank of Canada reaffirmed a “hold” rating and set a $92.00 price objective on shares of AveXis in a research note on Thursday, November 2nd. Canaccord Genuity began coverage on AveXis in a research note on Thursday, October 26th. They set a “hold” rating and a $110.00 price objective for the company. Zacks Investment Research downgraded AveXis from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. BidaskClub raised AveXis from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Finally, Chardan Capital reaffirmed a “buy” rating and set a $135.00 price objective on shares of AveXis in a research note on Friday, January 5th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. AveXis currently has an average rating of “Buy” and an average price target of $115.37.
The stock has a market capitalization of $3,874.05, a price-to-earnings ratio of -19.63 and a beta of 2.10.
In related news, insider Brian K. Kaspar sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $94.73, for a total value of $1,420,950.00. Following the sale, the insider now owns 1,826,502 shares in the company, valued at approximately $173,024,534.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sukumar Nagendran sold 1,780 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $94.77, for a total value of $168,690.60. Following the completion of the sale, the vice president now owns 1,780 shares in the company, valued at approximately $168,690.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,560 shares of company stock worth $6,160,062. Insiders own 18.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of AveXis by 57.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,241 shares of the company’s stock worth $137,000 after acquiring an additional 453 shares during the period. Amalgamated Bank grew its holdings in shares of AveXis by 19.6% in the 3rd quarter. Amalgamated Bank now owns 3,187 shares of the company’s stock worth $308,000 after acquiring an additional 523 shares during the period. Parametric Portfolio Associates LLC grew its holdings in shares of AveXis by 2.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 20,943 shares of the company’s stock worth $1,721,000 after acquiring an additional 598 shares during the period. Jennison Associates LLC grew its holdings in shares of AveXis by 0.5% in the 4th quarter. Jennison Associates LLC now owns 185,094 shares of the company’s stock worth $20,484,000 after acquiring an additional 883 shares during the period. Finally, Strs Ohio acquired a new stake in shares of AveXis in the 3rd quarter worth approximately $116,000. Institutional investors and hedge funds own 81.42% 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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