Anavex Life Sciences Corp. (AVXL) has been in the news due to its recent stock price performance. While AVXL’s stock price has traded in the red over the past 5 sessions, analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink by -35.70% this quarter and then drop by -25.00% in the next quarter. Moreover, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund are among the mutual funds that hold the largest holdings of Anavex Life Sciences Corp. (AVXL) shares. As of Dec 30, 2022, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 4.45 million shares, which is just over 5.70% of the company’s overall shares, with a $41.2 million market value.
AVXL’s Loss Reveals New Information
Anavex Life Sciences Corp. (NASDAQ:AVXL) has been in the news due to its recent stock price performance. In the last session, the company registered a traded share of 1.04 million, with a beta value of 0.79. At the end of the trading day, the stock price was down, indicating a -8.31% loss over the past week.
AVXL’s Recent Stock Performance
AVXL’s stock price has traded in the red over the past 5 sessions. However, in intraday trading on Friday, March 24, 2023, the stock spiked by 0.46%, reaching $8.72, which is a weekly high. Despite this spike, the 5-day price performance of the stock is still down by -8.31%, and over the last 30 days, it has moved by -12.19%. Moreover, the overall price performance for the year is -29.73%. The short interest in Anavex Life Sciences Corp. (NASDAQ:AVXL) is 18.37 million shares, indicating that shorts have 12.43 days to cover.
Analysts’ Forecasts for AVXL
The consensus price target of analysts on Wall Street for AVXL is $43.75, which implies an increase of 80.07% to the stock’s current value. The forecast also shows that AVXL is currently trading at a discount of -565.14% off the target high and -221.1% off the low. The extremes of the forecast provide a target low and a target high price of $28.00 and $58.00, respectively.
AVXL Estimates and Forecasts
AVXL has underperformed its competitors in share price, compared to the industry in which it operates. Its shares have gone down by -6.64% during the last six months, and its year-to-date growth rate is -29.03%, which is less than the industry average at 8.80%. However, analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink by -35.70% this quarter and then drop by -25.00% in the next quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -13.60%. While earnings are projected to return -14.90% in 2023.
AVXL Dividends
It is important to remember that the dividend yield ratio is merely an indicator meant to serve as guidance. Anavex Life Sciences Corp. is due to release its next quarterly earnings between May 08 and May 12.
AVXL Major Holders
Anavex Life Sciences Corp. insiders own 3.04% of total outstanding shares, while institutional holders control 32.16%, with the float percentage being 33.17%. Blackrock Inc. is the largest shareholder of the company, while 215 institutions own stock in it. As of Sep 29, 2022, the company held over 5.31 million shares (or 6.81% of all shares), a total value of $54.84 million in shares. The next largest institutional holding, with 4.36 million shares, is State Street Corporation’s, which is approximately 5.59% of outstanding shares. At the market price on Sep 29, 2022, these shares were valued at $45.01 million.
Anavex Life Sciences Corp. (AVXL) has caught the attention of several mutual funds, with SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund leading the pack. As of Dec 30, 2022, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 4.45 million shares, which is just over 5.70% of the company’s overall shares, with a $41.2 million market value. The other fund manager holds slightly less at 2.27 million, or about 2.91% of the stock, worth about $23.39 million.
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