Traders Buy Large Volume of Call Options on AveXis (AVXS)

AveXis, Inc. (NASDAQ:AVXS) saw unusually large options trading activity on Thursday. Stock investors bought 1,046 call options on the company. This represents an increase of approximately 1,160% compared to the average volume of 83 call options.

A number of brokerages have recently commented on AVXS. ValuEngine lowered shares of AveXis from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Bank of America dropped their target price on shares of AveXis from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, November 10th. Royal Bank of Canada boosted their target price on shares of AveXis from $92.00 to $97.00 and gave the company a “sector perform” rating in a report on Friday, November 10th. Chardan Capital restated a “buy” rating on shares of AveXis in a report on Thursday, November 2nd. Finally, Zacks Investment Research lowered shares of AveXis from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $110.67.

Shares of AveXis (AVXS) opened at $98.09 on Tuesday. AveXis has a 52-week low of $44.68 and a 52-week high of $108.27.

AveXis (NASDAQ:AVXS) last posted its earnings results on Thursday, November 9th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.04). During the same period in the prior year, the company earned ($0.87) EPS. equities research analysts predict that AveXis will post -6.23 earnings per share for the current year.

In other news, insider Brian K. Kaspar sold 15,000 shares of AveXis stock in a transaction on Friday, December 1st. The shares were sold at an average price of $94.73, for a total transaction of $1,420,950.00. Following the transaction, the insider now owns 1,826,502 shares in the company, valued at $173,024,534.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $97.25, for a total transaction of $173,105.00. Following the transaction, the vice president now owns 1,780 shares in the company, valued at approximately $173,105. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,340 shares of company stock worth $5,172,298. 18.60% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of AveXis during the third quarter worth about $116,000. Botty Investors LLC bought a new stake in AveXis in the 2nd quarter worth about $123,000. Cubist Systematic Strategies LLC grew its position 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 in the last quarter. Teacher Retirement System of Texas bought a new stake in AveXis in the 3rd quarter worth about $200,000. Finally, Deschutes Portfolio Strategy LLC bought a new stake in AveXis in the 3rd quarter worth about $203,000. 92.88% of the stock is owned by institutional investors.

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AveXis Company Profile

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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