Axovant Gene Therapies Ltd. (NASDAQ:AXGT) is one of the stocks that are taking the center stage today as the company shares are trading 5.01% or 0.35 points lower from last closing price of $6.99, reaching $6.64 at last check. So what’s going on with AXGT shares anyway? The price has dropped in 4 of the last 5 days and is down -34.3% over the past week. It will be exciting to see whether the stock manages to continue decreasing or take a minor break for the next few days. The move came on weak volume too with far less shares changing hands than in a normal session. Trading activity as of this writing weakened by -236,504 shares, and in total 243696 shares valued at $1.618 million were seen changing hands compared with 480200 shares valued at $3.357 million recorded at the previous session. You should take into consideration that a falling volume on lower prices shows the bearish trend but this is an early indication which means that the AXGT stock is near its bottom.
Axovant Gene Therapies Ltd. (AXGT) shares have notched a 3-month decline of about -34.3%, but has still tumbled -12.27% year to date. By comparison, the stock sank -41.36% over the past 12 months, while it slipped -20.57% over the 1 month. The company’s market cap is around $166.5M, with its short interest ratio standing at 3.56%.
In the current trading session for AXGT, the stock witnessed two major price actions, it rose to a high of $7 and was down as much as $6.61 at one point. The high recorded is very low when compared to their 52-week high which is $6.6. The 52-week high is now at -87.35 distance from current price. Their recent low of $52.72 represents a 1.06% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for AXGT is $38.4, this is below the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
AXGT‘s last price was down -46.15% as compared to the average trading price of 50 days recorded at $12.33 while enlarging the period to 200 trading days, the average closing price was $8.92. At present, there are 23.82 million in the total number of common shares owned by the public and among those 9.52 million shares have been available to trade. The percentage of shares being held by the company management was 58.1% while institutions stake was 22.2%. The company has generated negative returns on equity over the last 12 months (-416%). It managed to keep its gross profit margin at 0% over the past 12 months.
When assessing the full upside of the AXGT stock, there is another set of technicals that should be looked into and considered. Its -16.2% decline from moving average of $7.92 has brought about a negative sentiment when calculated over the last 20 days. The market has allocated a beta of 1.24 to the stock. With the beta been greater than one, this implies that the company shares are theoretically more volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of Axovant Gene Therapies Ltd. — 5 analysts rate the stock as a buy with another 0 rating it strong buy. There are 1 analysts who maintain a hold rating for the stock, with 0 giving it a sell rating. Analysts arrived at a 12-month price target of $48 on shares of Axovant Gene Therapies Ltd. (NASDAQ:AXGT), which corresponds to 617.49% upside potential than its current market price of $6.64 and implies potential despite the recent drop in the price. However, their current target price has fallen from $48 a month ago and is down handily from the consensus target of $56 a quarter ago.
Let’s briefly check the hedge fund interest towards AXGT stock. Marshall Wace LLP added position in the company after it grew 50% or 136,579 shares of its common stock. The hedge fund now owns 204,869 shares worth $1,360,330, SEC documents show. Jane Street Group LLC shored up assets in the stock as 24053.33 shares have been purchased, increasing its stake by 50% to 36,080 shares which are currently valued at $239,571. In addition, Morgan Stanley recently reported that it now owns 219,097 shares making a total of $1,454,804 based on the recent price. This refelects a change of 50% in their ownership.