Axovant Gene Therapies Ltd (NASDAQ:AXGT) was the recipient of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 1,061,600 shares, a drop of 17.1% from the July 15th total of 1,280,600 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average trading volume of 662,600 shares, the short-interest ratio is presently 1.6 days.

Shares of Axovant Gene Therapies stock traded down $0.23 during trading on Wednesday, hitting $7.63. The companys stock had a trading volume of 78,183 shares, compared to its average volume of 386,879. The stock has a market cap of $178.68 million, a price-to-earnings ratio of -0.95 and a beta of 1.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.70 and a quick ratio of 1.70. Axovant Gene Therapies has a 52 week low of $3.81 and a 52 week high of $20.80. The stock has a 50-day moving average price of $6.87 and a two-hundred day moving average price of $4.87.

Axovant Gene Therapies (NASDAQ:AXGT) last released its earnings results on Friday, August 9th. The company reported ($1.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.34) by $0.11. On average, equities analysts predict that Axovant Gene Therapies will post -4.25 EPS for the current fiscal year.

AXGT has been the subject of a number of analyst reports. Cowen reiterated a hold rating on shares of Axovant Gene Therapies in a research report on Tuesday, July 9th. JMP Securities boosted their price objective on shares of Axovant Gene Therapies from $8.00 to $28.00 and gave the company an outperform rating in a research report on Thursday, June 6th. Zacks Investment Research downgraded shares of Axovant Gene Therapies from a buy rating to a hold rating in a research report on Wednesday, August 14th. ValuEngine upgraded shares of Axovant Gene Therapies from a sell rating to a hold rating in a research report on Thursday, August 1st. Finally, Svb Leerink started coverage on shares of Axovant Gene Therapies in a research report on Friday, June 21st. They set an outperform rating and a $18.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the companys stock. The company presently has an average rating of Buy and an average target price of $26.79.

Several hedge funds and other institutional investors have recently made changes to their positions in AXGT. Primecap Management Co. CA acquired a new position in shares of Axovant Gene Therapies during the first quarter valued at about $1,400,000. Marshall Wace LLP acquired a new position in shares of Axovant Gene Therapies during the first quarter valued at about $272,000. Sphera Funds Management LTD. acquired a new position in shares of Axovant Gene Therapies during the first quarter valued at about $6,794,000. BlackRock Inc. acquired a new position in shares of Axovant Gene Therapies during the second quarter valued at about $1,482,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Axovant Gene Therapies by 955.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,221 shares of the companys stock worth $27,000 after acquiring an additional 3,821 shares during the last quarter. Hedge funds and other institutional investors own 13.48% of the companys stock.

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 Ltd (NASDAQ:AXGT) Sees Large Decrease in Short Interest - TechNewsObserver

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