Home / Healthcare / Anavex Life Sciences Corp. (AVXL) Gives Up 3.35% at Midday on September 23, Pressuring Health Care Stocks

Anavex Life Sciences Corp. (AVXL) Gives Up 3.35% at Midday on September 23, Pressuring Health Care Stocks

Anavex Life Sciences Corp. (AVXL) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the health care sector halfway through the trading day. At the lunch break, shares of AVXL have fallen 3.35% to $3.17 after closing the day prior at $3.28. So far, the stock has traded as high as $3.24 and as low as $3.02. Today’s decline has come with about 1.43 million shares changing hands, compared to an average 30-day volume of 994,711 for Anavex Life Sciences Corp.. The price is currently below the 30-day volume weighted average price of $3.13 for AVXL.

The share depreciation gives the company a market capitalization of $117.13 million based upon 35.71 million shares outstanding. It also means that AVXL has a price-to-book ratio of 15.27:1.

In the past 52 weeks, shares of AVXL have traded as low as $2.43 and as high as $14.8399. Technical traders will take note that at $3.17, shares of AVXL are trading below their 200-day MA at $4.72 and below their 50-day MA at $3.86. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is AVXL?

Anavex Life Sciences Corp is a clinical stage bio-pharmaceutical company. The Company is engaged in the development of drug candidates to treat Alzheimer's disease, other central nervous system (CNS) diseases, and various types of cancer. The company’s 7 employees are led by CEO Christopher U. Missling from the corporate headquarters at 51 West 52nd Street in New York, NY.

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