Lord Abbett & CO. LLC cut its stake in AveXis (NASDAQ:AVXS) by 19.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 248,179 shares of the company’s stock after selling 60,382 shares during the period. Lord Abbett & CO. LLC owned 0.67% of AveXis worth $30,670,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Botty Investors LLC purchased a new stake in AveXis in the first quarter worth about $3,006,000. Farallon Capital Management LLC purchased a new position in shares of AveXis during the first quarter valued at approximately $36,333,000. Eversept Partners LLC lifted its holdings in shares of AveXis by 185.7% during the first quarter. Eversept Partners LLC now owns 78,201 shares of the company’s stock valued at $9,664,000 after purchasing an additional 50,831 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of AveXis during the first quarter valued at approximately $880,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of AveXis by 4.8% during the first quarter. Principal Financial Group Inc. now owns 9,556 shares of the company’s stock valued at $1,181,000 after purchasing an additional 435 shares during the last quarter. Institutional investors and hedge funds own 84.14% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Credit Suisse Group reiterated a “neutral” rating and set a $139.00 target price on shares of AveXis in a report on Wednesday, April 11th. Sanford C. Bernstein reiterated an “outperform” rating and set a $144.00 target price (up from $110.00) on shares of AveXis in a report on Tuesday, February 20th. Mizuho set a $147.00 target price on shares of AveXis and gave the company a “buy” rating in a report on Wednesday, March 14th. Zacks Investment Research lowered shares of AveXis from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th. Finally, William Blair assumed coverage on shares of AveXis in a report on Monday, April 9th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. AveXis presently has a consensus rating of “Hold” and an average target price of $123.90.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Wednesday, May 9th. The company reported ($6.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.32) by ($2.88). research analysts forecast that AveXis will post -9.69 EPS for the current fiscal year.
In related news, insider Brian K. Kaspar sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $119.50, for a total transaction of $1,792,500.00. Following the completion of the sale, the insider now owns 1,767,766 shares of the company’s stock, valued at $211,248,037. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James J. Litalien sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $119.44, for a total transaction of $597,200.00. Following the sale, the vice president now directly owns 8,800 shares of the company’s stock, valued at approximately $1,051,072. The disclosure for this sale can be found here. 18.60% of the stock is owned by company insiders.
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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