Axovant Gene Therapies Ltd (NASDAQ:AXGT) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,225,900 shares, an increase of 15.5% from the July 31st total of 1,061,600 shares. Based on an average trading volume of 643,100 shares, the days-to-cover ratio is currently 1.9 days. Approximately 5.4% of the company’s stock are sold short.
A number of research analysts have recently commented on the company. Robert W. Baird upgraded Axovant Gene Therapies from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $16.00 to $13.00 in a report on Monday, August 12th. Zacks Investment Research downgraded Axovant Gene Therapies from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. ValuEngine upgraded Axovant Gene Therapies from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Leerink Swann initiated coverage on Axovant Gene Therapies in a research note on Friday, June 21st. They set an “outperform” rating and a $5.79 price target on the stock. Finally, JMP Securities raised their price target on Axovant Gene Therapies from $8.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Axovant Gene Therapies has an average rating of “Buy” and an average target price of $26.79.
NASDAQ:AXGT opened at $7.62 on Friday. The stock’s 50 day moving average price is $6.74 and its 200 day moving average price is $4.71. The company has a market capitalization of $171.54 million, a PE ratio of -0.95 and a beta of 1.26. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.60. Axovant Gene Therapies has a 52-week low of $3.81 and a 52-week high of $20.80.
Axovant Gene Therapies (NASDAQ:AXGT) last released its quarterly earnings results on Friday, August 9th. The company reported ($1.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.11. As a group, sell-side analysts anticipate that Axovant Gene Therapies will post -4.25 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its stake in Axovant Gene Therapies by 955.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,221 shares of the company’s stock worth $27,000 after buying an additional 3,821 shares during the last quarter. Jane Street Group LLC grew its stake in Axovant Gene Therapies by 28.8% during the 2nd quarter. Jane Street Group LLC now owns 46,455 shares of the company’s stock worth $289,000 after buying an additional 10,375 shares during the last quarter. Marshall Wace LLP purchased a new position in Axovant Gene Therapies during the 1st quarter worth approximately $272,000. BlackRock Inc. purchased a new position in Axovant Gene Therapies during the 2nd quarter worth approximately $1,482,000. Finally, Primecap Management Co. CA purchased a new position in Axovant Gene Therapies during the 1st quarter worth approximately $1,400,000. Hedge funds and other institutional investors own 13.48% of the company’s stock.
About Axovant Gene Therapies
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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