Traders Buy Large Volume of Call Options on AveXis (AVXS)
AveXis (NASDAQ:AVXS) saw some unusual options trading on Tuesday. Stock traders acquired 4,152 call options on the stock. This is an increase of approximately 998% compared to the typical daily volume of 378 call options.
Several brokerages have recently issued reports on AVXS. Citigroup lowered AveXis from a “buy” rating to a “neutral” rating in a report on Tuesday. Credit Suisse Group reiterated a “neutral” rating and set a $139.00 price target on shares of AveXis in a report on Wednesday. Nomura upgraded AveXis from a “reduce” rating to a “neutral” rating in a report on Monday. Morgan Stanley lowered AveXis from an “overweight” rating to a “hold” rating in a report on Monday. Finally, BidaskClub upgraded AveXis from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. AveXis has an average rating of “Hold” and an average target price of $123.90.
AVXS opened at $211.85 on Thursday. AveXis has a twelve month low of $65.54 and a twelve month high of $213.70. The company has a market capitalization of $7,729.23, a P/E ratio of -29.10 and a beta of 2.06.
In other news, insider Brian K. Kaspar sold 15,000 shares of AveXis stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $118.07, for a total transaction of $1,771,050.00. Following the completion of the sale, the insider now directly owns 1,792,147 shares in the company, valued at approximately $211,598,796.29. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sean P. Nolan sold 10,000 shares of AveXis stock in a transaction dated Wednesday, March 7th. The shares were 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 owns 10,000 shares of the company’s stock, valued at $1,294,700. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,780 shares of company stock worth $8,341,178. Company insiders own 18.60% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of AVXS. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in 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 purchasing an additional 453 shares during the last quarter. QS Investors LLC acquired a new stake in AveXis in the 4th quarter worth approximately $156,000. Cubist Systematic Strategies LLC lifted its holdings in AveXis by 688.6% in the 3rd 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 last quarter. Prudential Financial Inc. acquired a new stake in AveXis in the 3rd quarter worth approximately $224,000. Finally, Vident Investment Advisory LLC acquired a new stake in AveXis in the 3rd quarter worth approximately $245,000. Hedge funds and other institutional investors own 82.43% of the company’s stock.
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AveXis, Inc, a clinical-stage gene therapy company, engages in developing and commercializing treatments for patients suffering from rare and life-threatening neurological genetic diseases. Its initial product candidate is AVXS-101, a gene therapy product candidate that has completed Phase I clinical trial for the treatment of spinal muscular atrophy Type 1.
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