AveXis (AVXS) Receives “Buy” Rating from William Blair
AVXS has been the subject of several other reports. Zacks Investment Research cut AveXis from a buy rating to a hold rating in a research report on Monday, October 30th. Bank of America reduced their price objective on AveXis from $115.00 to $112.00 and set a buy rating for the company in a research report on Friday, November 10th. Canaccord Genuity started coverage on AveXis in a research report on Thursday, October 26th. They issued a hold rating and a $110.00 price objective for the company. Royal Bank of Canada increased their price objective on AveXis from $92.00 to $97.00 and gave the company a sector perform rating in a research report on Friday, November 10th. Finally, BMO Capital Markets reissued an outperform rating and issued a $130.00 price objective (up from $123.00) on shares of AveXis in a research report on Thursday, October 12th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. AveXis currently has a consensus rating of Buy and a consensus price target of $113.89.
AveXis (AVXS) opened at $118.53 on Tuesday. AveXis has a twelve month low of $53.94 and a twelve month high of $128.00. The company has a market capitalization of $4,513.94 and a P/E ratio of -21.28.
In related news, VP Andrew F. Knudten sold 2,000 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $94.48, for a total value of $188,960.00. Following the completion of the transaction, the vice president now directly owns 7,000 shares of the company’s stock, valued at $661,360. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian K. Kaspar sold 15,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 1,826,502 shares of the company’s stock, valued at $173,024,534.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,560 shares of company stock valued at $4,152,752. 18.60% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Strs Ohio bought a new position in AveXis in the third quarter worth $116,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in AveXis by 57.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,241 shares of the company’s stock worth $137,000 after purchasing an additional 453 shares during the period. Cubist Systematic Strategies LLC lifted its position in AveXis by 688.6% in the third quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock worth $175,000 after purchasing an additional 1,577 shares during the period. Teacher Retirement System of Texas bought a new position in AveXis in the third quarter worth $200,000. Finally, Deschutes Portfolio Strategy LLC bought a new position in AveXis in the third quarter worth $203,000. 82.77% of the stock is owned by hedge funds and other institutional investors.
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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