Why Axovant's Stock Is Trading Lower Today

Axovant Gene Therapies AXGT shares were trading lower on Tuesday after the company reported its six-month follow-up data from second cohort of SUNRISE-PD Phase 2 trial of AXO-Lenti-PD gene therapy.

Axovant Gene Therapies is a clinical-stage company that is focused on gene therapy for neurodegenerative diseases. The company is developing its pipeline for the treatment of debilitating diseases, including Parkinson's disease, GM1 gangliosidosis, and GM2 gangliosidosis. It currently has three clinical-stage programs which include AXO-Lenti-PD program for Parkinson's disease, AXO-AAV-GM1 program for GM1 gangliosidosis, and AXO-AAV-GM1 program for GM2 gangliosidosis (including Tay-Sachs and Sandhoff diseases).

Axovant Gene Therapies shares traded down 22.82% to $4.34 on Tuesday. The stock has a 52-week high of $6.93 and a 52-week low of $1.41.