Short Interest in Axovant Gene Therapies Ltd (NASDAQ:AXGT) Grows By 9.7%

Axovant Gene Therapies Ltd (NASDAQ:AXGT) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 1,070,500 shares, a growth of 9.7% from the April 30th total of 976,200 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 361,600 shares, the days-to-cover ratio is presently 3.0 days.

A number of brokerages have recently issued reports on AXGT. Zacks Investment Research lowered shares of First Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Leerink Swann began coverage on shares of Axovant Gene Therapies in a research note on Friday, June 21st. They set an “outperform” rating and a $5.79 target price for the company. Svb Leerink began coverage on shares of Axovant Gene Therapies in a research note on Friday, June 21st. They set an “outperform” rating and a $18.00 target price for the company. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Cowen reaffirmed a “hold” rating on shares of Axovant Gene Therapies in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $28.76.

In other news, CEO Pavan Cheruvu acquired 7,500 shares of the company’s stock in a transaction on Friday, June 14th. The stock was bought at an average cost of $5.21 per share, with a total value of $39,075.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new stake in shares of Axovant Gene Therapies in the 1st quarter worth $272,000. Sphera Funds Management LTD. acquired a new stake in shares of Axovant Gene Therapies in the 1st quarter worth $6,794,000. Finally, Primecap Management Co. CA acquired a new stake in shares of Axovant Gene Therapies in the 1st quarter worth $1,400,000.

Shares of AXGT traded up $0.05 during mid-day trading on Friday, hitting $7.38. 815,535 shares of the company traded hands, compared to its average volume of 1,353,143. Axovant Gene Therapies has a 1-year low of $3.81 and a 1-year high of $21.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.63 and a quick ratio of 2.63. The company has a market capitalization of $168.12 million, a P/E ratio of -0.92 and a beta of 1.28. The firm’s 50 day simple moving average is $6.16.

Axovant Gene Therapies (NASDAQ:AXGT) last issued its quarterly earnings results on Tuesday, June 11th. The company reported ($0.45) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.70) by $1.25. On average, sell-side analysts predict that Axovant Gene Therapies will post -5.71 earnings per share for the current fiscal year.

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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