Axovant Gene Therapies (NASDAQ:AXGT) Downgraded to Sell at Zacks Investment Research – Riverton Roll
Posted: January 19, 2020 at 7:42 pm
Zacks Investment Research downgraded shares of Axovant Gene Therapies (NASDAQ:AXGT) from a hold rating to a sell rating in a report released on Wednesday morning, Zacks.com reports.
According to Zacks, Axovant Sciences Ltd. is a biopharmaceutical company which focuses on the acquisition, development and commercialization of therapeutics for the treatment of neurodegenerative disorders. Its product candidate includes RVT-101 which is in different clinical trial for the treatment of Alzheimers disease and other forms of dementia. Axovant Sciences Ltd. is based in Hamilton, Bermuda.
Other equities research analysts also recently issued reports about the stock. ValuEngine raised shares of Axovant Gene Therapies from a hold rating to a buy rating in a report on Friday, January 3rd. Chardan Capital upped their price objective on shares of Axovant Gene Therapies from $10.00 to $15.00 and gave the company a buy rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $24.66.
NASDAQ AXGT traded down $0.22 during trading on Wednesday, hitting $4.43. 227,466 shares of the companys stock traded hands, compared to its average volume of 146,417. Axovant Gene Therapies has a 12-month low of $3.81 and a 12-month high of $19.60. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50 day moving average of $5.14 and a 200-day moving average of $6.11.
Axovant Gene Therapies (NASDAQ:AXGT) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.61) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($1.15) by $0.54. Research analysts predict that Axovant Gene Therapies will post -3.58 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Axovant Gene Therapies in the second quarter worth about $1,482,000. Tower Research Capital LLC TRC lifted its holdings in shares of Axovant Gene Therapies by 955.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,221 shares of the companys stock worth $27,000 after buying an additional 3,821 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Axovant Gene Therapies by 28.8% in the second quarter. Jane Street Group LLC now owns 46,455 shares of the companys stock worth $289,000 after buying an additional 10,375 shares in the last quarter. Barclays PLC purchased a new stake in shares of Axovant Gene Therapies in the third quarter worth about $65,000. Finally, Woodstock Corp purchased a new stake in shares of Axovant Gene Therapies in the fourth quarter worth about $83,000. 14.80% of the stock is currently owned by institutional investors and hedge funds.
Axovant Gene Therapies Company Profile
Axovant Gene Therapies Ltd., a clinical-stage gene therapy company, focuses on developing a pipeline of product candidates for debilitating neurological and neuromuscular diseases. The company's current pipeline of gene therapy candidates targets GM1 gangliosidosis, GM2 gangliosidosis, Parkinson's disease, oculopharyngeal muscular dystrophy, amyotrophic lateral sclerosis, and frontotemporal dementia.
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Axovant Gene Therapies (NASDAQ:AXGT) Downgraded to Sell at Zacks Investment Research - Riverton Roll
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