The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Anavex Life Sciences Corporation shares valued at $374,972 were sold by MISSLING CHRISTOPHER U on Mar 28 ’24. At $5.11 per share, MISSLING CHRISTOPHER U sold 73,380 shares. The insider’s holdings dropped to 1,250,210 shares worth approximately $4.75 million following the completion of this transaction.
Also, MISSLING CHRISTOPHER U sold 268,000 shares, netting a total of over 2,139,310 in proceeds. Following the sale of shares at $7.98 each, the insider now holds 1,018,210 shares.
As published in a research note from Cantor Fitzgerald on December 06, 2022, Anavex Life Sciences Corporation [AVXL] has been rated down from an Overweight to a Neutral and the price target has been revised to $11 from $16. Analysts at Berenberg started covering the stock with ‘”a Buy”‘ outlook in a report released in late June. As of September 23, 2021, BTIG Research has initiated its “Buy” rating for AVXL. Earlier on December 16, 2020, H.C. Wainwright resumed its rating. Their recommendation was “a Buy” for AVXL stock.
Analyzing AVXL Stock Performance
During the last five days, there has been a drop of approximately -14.61%. Over the course of the year, Anavex Life Sciences Corporation shares have dropped approximately -59.18%. Shares of the company reached a 52-week high of $6.95 on 01/02/24 and a 52-week low of $3.79 on 04/18/24. A 50-day SMA is recorded $4.99, while a 200-day SMA reached $6.66. Nevertheless, trading volume fell to 1.66 million shares from 1.25 million shares the previous day.
Support And Resistance Levels for Anavex Life Sciences Corporation (AVXL)
According to the 24-hour chart, there is a support level at 3.70, which, if violated, would cause prices to drop to 3.60. In the upper region, resistance lies at 3.99. The next price resistance is at 4.18. RSI (Relative Strength Index) is 28.74 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.37, which suggests the price will decrease in the coming days. Percent R is at 99.22%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
