AveXis, Inc. (AVXS) Lifted to “Hold” at Zacks Investment Research
According to Zacks, “AveXis, Inc. is a gene therapy company which develops and commercializes treatments for neurological genetic diseases primarily in United States. The Company’s product candidate consists of AVXS-101 which is in clinical trial for the treatment of spinal muscular atrophy Type 1, the genetic cause of infant mortality. AveXis, Inc. is headquartered in Bannockburn, Illinois. “
Other equities research analysts have also recently issued reports about the company. Jefferies Group LLC reiterated a buy rating and issued a $79.00 price target (up from $71.00) on shares of AveXis in a research note on Monday, November 14th. Stifel Nicolaus began coverage on AveXis in a research note on Monday, November 14th. They set a hold rating and a $65.00 target price for the company. Chardan Capital restated a buy rating and set a $100.00 target price (up from $85.00) on shares of AveXis in a research note on Tuesday, February 7th. BMO Capital Markets restated an outperform rating and set a $78.33 target price (down from $85.00) on shares of AveXis in a research note on Thursday, December 29th. Finally, Bank of America Corporation began coverage on AveXis in a research note on Friday, October 21st. They set a buy rating for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $70.22.
Shares of AveXis (NASDAQ:AVXS) opened at 59.36 on Tuesday. AveXis has a 1-year low of $18.12 and a 1-year high of $72.72. The firm’s market capitalization is $1.64 billion. The stock has a 50 day moving average price of $54.48 and a 200 day moving average price of $48.95.
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A number of hedge funds have recently bought and sold shares of the stock. Pacad Investment Ltd. acquired a new stake in shares of AveXis during the fourth quarter worth $277,000. A.R.T. Advisors LLC increased its stake in shares of AveXis by 68.8% in the fourth quarter. A.R.T. Advisors LLC now owns 10,800 shares of the company’s stock worth $515,000 after buying an additional 4,400 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of AveXis by 98.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 14,609 shares of the company’s stock worth $556,000 after buying an additional 7,252 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of AveXis during the fourth quarter worth $640,000. Finally, GAM Holding AG acquired a new stake in shares of AveXis during the third quarter worth $1,212,000. Institutional investors and hedge funds own 68.31% of the company’s stock.
AveXis, Inc, formerly Biolife Cell Bank, Inc, is a clinical-stage gene therapy company. The Company operates through 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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