Axovant Gene Therapies Ltd (NASDAQ:AXGT)’s stock price shot up 5.5% during trading on Wednesday . The company traded as high as $6.70 and last traded at $6.70, 153,140 shares were traded during mid-day trading. A decline of 67% from the average session volume of 457,186 shares. The stock had previously closed at $6.35.
A number of brokerages have recently commented on AXGT. Evercore ISI began coverage on shares of Homology Medicines in a report on Thursday, April 11th. They issued an “outperform” rating and a $29.00 target price for the company. JMP Securities upped their target price on shares of Axovant Gene Therapies from $8.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Svb Leerink began coverage on shares of Axovant Gene Therapies in a report on Friday, June 21st. They issued an “outperform” rating and a $18.00 target price for the company. Zacks Investment Research cut shares of First Bancorp from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Finally, Leerink Swann began coverage on shares of Axovant Gene Therapies in a report on Friday, June 21st. They issued an “outperform” rating and a $5.79 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $28.76.
The stock has a market capitalization of $144.66 million, a PE ratio of -0.84 and a beta of 1.28. The business has a fifty day moving average price of $6.22. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.41.
Axovant Gene Therapies (NASDAQ:AXGT) last posted its quarterly earnings results on Tuesday, June 11th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.70) by $1.25. On average, equities research analysts predict that Axovant Gene Therapies Ltd will post -5.34 earnings per share for the current fiscal year.
In related news, CEO Pavan Cheruvu bought 7,500 shares of the stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $5.21 per share, for a total transaction of $39,075.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP acquired a new position in Axovant Gene Therapies during the first quarter worth about $272,000. Primecap Management Co. CA acquired a new stake in shares of Axovant Gene Therapies in the first quarter valued at approximately $1,400,000. Finally, Sphera Funds Management LTD. acquired a new stake in shares of Axovant Gene Therapies in the first quarter valued at approximately $6,794,000.
About Axovant Gene Therapies (NASDAQ:AXGT)
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.
