AveXis (AVXS) Rating Lowered to Buy at BidaskClub
AveXis (NASDAQ:AVXS) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.
Several other equities analysts have also recently issued reports on AVXS. Mizuho set a $147.00 target price on AveXis and gave the company a “buy” rating in a research note on Wednesday, March 14th. Morgan Stanley set a $129.00 target price on AveXis and gave the company a “buy” rating in a research note on Tuesday, March 6th. William Blair reissued a “buy” rating on shares of AveXis in a research note on Saturday, March 3rd. Canaccord Genuity set a $110.00 target price on AveXis and gave the company a “hold” rating in a research note on Friday, January 5th. Finally, Wells Fargo reissued an “outperform” rating and set a $171.00 target price (up from $134.00) on shares of AveXis in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $123.90.
AveXis (NASDAQ AVXS) opened at $125.14 on Tuesday. AveXis has a 12 month low of $65.23 and a 12 month high of $138.46.
In related news, CEO Sean P. Nolan sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $129.47, for a total value of $1,294,700.00. Following the sale, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at $1,294,700. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Andrew F. Knudten sold 2,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $118.13, for a total value of $236,260.00. Following the completion of the sale, the vice president now directly owns 7,000 shares in the company, valued at $826,910. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,560 shares of company stock worth $7,793,030. 18.60% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of AVXS. Westfield Capital Management Co. LP bought a new stake in AveXis in the third quarter worth $39,563,000. Advisory Research Inc. boosted its holdings in AveXis by 25.5% in the fourth quarter. Advisory Research Inc. now owns 16,821 shares of the company’s stock worth $1,862,000 after acquiring an additional 3,423 shares in the last quarter. Legal & General Group Plc boosted its holdings in AveXis by 76.4% in the third quarter. Legal & General Group Plc now owns 10,283 shares of the company’s stock worth $1,000,000 after acquiring an additional 4,455 shares in the last quarter. Jane Street Group LLC boosted its holdings in AveXis by 182.0% in the third quarter. Jane Street Group LLC now owns 10,844 shares of the company’s stock worth $1,049,000 after acquiring an additional 6,999 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in AveXis by 38.9% in the third quarter. New York State Common Retirement Fund now owns 30,422 shares of the company’s stock worth $2,943,000 after acquiring an additional 8,522 shares in the last quarter. 82.43% of the stock is currently owned by institutional investors.
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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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