This fall in price came a day after the company announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed public offering of 2,000,000 shares of its common stock and a partial release of lock-up agreements in connection with it.
The biomedicine company has seen a flat track record when it comes to current year estimate revisions over the past few weeks and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
AAVL currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
A better-ranked stock in the same sector is Affymetrix Inc. (AFFX) with a Zacks Rank #1 (Strong Buy).
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