Shares are trading at $80.50 which is a tad above the 50 day moving average which is $73.90 and just a bit higher than the 200 day moving average of $66.54. The 50 day moving average went up by +8.94% whereas the 200 day moving average was up $13.96 or +20.98%. Trading was light with 379K shares changing hands on Thursday. Trading volume was down 21.76% under the stocks average daily volume.
Investors are a little more bullish on shares of the company recently considering the change in short interest. The company realized a fall in short interest of -4.74% between June 15, 2017 and May 31, 2017. Short interest decreased 230,181 over that period. Days to cover decreased -2.2 to 7.9 and the percentage of shorted shares was 0.17% on May 31.
Here is the rundown on market activity for AveXis, Inc. (NASDAQ:AVXS). Sr. VP & Chief Medical Officer Sukumar Nagendran disclosed the sale of 1,780 shares. The shares were purchased at an average price of $81.87. Nagendran now owns $0 of the stock per the Form 4 SEC filing. Director Paul B. Manning sold 289,855 shares at an average price of $34.50 on September 13th. That brings Manning’s holdings to $41,440,020 as reported to the SEC.
Bong Y. Koh, Director reported the purchase of 100,000 shares of (AVXS). The shares were bought on February 17th for an average price of $20.00. The Director now owns $20,713,140 of the stock according to the SEC filing.
Here are a few other firms who have also updated their positions. As of the end of the quarter Morgan Stanley had acquired a total of 639 shares growing its stake by 426.0%. The value of the investment in AveXis, Inc. went from $7,000 to $60,000 a change of $53,000 quarter to quarter. Goldman Sachs Group Inc grew its ownership by buying 193,934 shares an increase of 569.9% in the quarter. Goldman Sachs Group Inc now holds 227,961 shares worth $17,332,000. The value of the position overall is up by 967.2%.
Janus Capital Management LLC cut its holdings by selling 27,671 shares a decrease of 5.0%. Janus Capital Management LLC currently owns 521,772 shares with a value of $39,668,000. The total value of its holdings increased 51.2%. As of quarter end Ra Capital Management, LLC had sold 265,585 shares trimming its position 14.0%. The value of the total investment in AveXis, Inc. increased from $90,248,000 to $123,565,000 a change of 36.9% for the reporting period.
On May 23, 2017 Citigroup started covering the stock giving it an initial rating of “Buy”. On November 14 analysts at Stifel Nicolaus added AVXS to its research portfolio by announcing an initial rating of “Hold”.
Bank of America initiated coverage setting a rating of “Buy”. On October 12 Jefferies held the stock rating at “Buy” and moved up the price target to $58.00 from $50.00.
September 19 investment analysts at Jefferies held the company rating at “Buy” and raised the price expectation from $42.00 to $50.00. On August 17 the stock rating was upgraded to “Outperform” from “” in an announcement from Wells Fargo.
The company is so far trading up by 0.41% since yesterday’s close of $80.17. In the latest earnings report the EPS was $-3.62 and is estimated to be $-4.43 for the current year with 27,794,000 shares outstanding. Analysts expect next quarter’s EPS will be $-1.14 with next year’s EPS projected to be $-4.44.
AveXis, Inc., launched on March 10, 2010, 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 Business’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. The survival motor neuron (SMN) is a protein for normal motor neuron signaling and function. Patients with SMA Type 1 either have experienced a deletion of their SMN1 genes, which prevents them from producing adequate levels of functional SMN protein, or carry a mutation in their SMN1 gene. AVXS-101 is designed to deliver a functional human SMN gene into the nuclei of motor neurons that then generates an increase in SMN protein levels. The Company also focuses to develop AVXS-101 to treat additional SMA types and other treatments for rare neurological genetic diseases..