Anixa Biosciences (NASDAQ:ANIX) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Anixa Biosciences from “hold” to “sell,” contrasting with three buy ratings, one hold, and one sell rating from other analysts. The stock has an overall “hold” consensus and an average price target of $8.00.
• Anixa shares opened at $3.12, with a market capitalization of approximately $108.45 million and a 52-week range of $2.32 to $5.46. The company reported a quarterly loss of $0.08 per share, in line with estimates.
• Insiders have recently bought shares, including a director’s purchase of 49,036 shares at an average price of $2.69; insiders own 26.4% of the company, while institutional investors hold 29.13%.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued reports about the stock. Citigroup restated a "buy" rating on shares of Anixa Biosciences in a report on Tuesday, October 6th. HC Wainwright lowered their target price on shares of Anixa Biosciences from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, September 22nd. Zacks Research downgraded shares of Anixa Biosciences from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings raised Anixa Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, September 17th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $8.00.

Anixa Biosciences Stock Down 5.5%

Shares of Anixa Biosciences stock opened at $3.12 on Friday. Anixa Biosciences has a 52-week low of $2.32 and a 52-week high of $5.46. The company has a 50 day moving average of $2.97 and a 200 day moving average of $2.97. The company has a market capitalization of $108.45 million, a P/E ratio of -9.75 and a beta of 0.47.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last posted its quarterly earnings results on Wednesday, September 9th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). As a group, research analysts anticipate that Anixa Biosciences will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at Anixa Biosciences

In other Anixa Biosciences news, Director Lewis Titterton, Jr. purchased 49,036 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was purchased at an average cost of $2.69 per share, with a total value of $131,906.84. Following the completion of the acquisition, the director directly owned 1,046,003 shares of the company's stock, valued at $2,813,748.07. This trade represents a 4.92% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 100,536 shares of company stock valued at $275,737 over the last three months. Corporate insiders own 26.40% of the company's stock.

Institutional Trading of Anixa Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC lifted its position in Anixa Biosciences by 19.2% in the third quarter. CoreCap Advisors LLC now owns 62,020 shares of the company's stock valued at $182,000 after acquiring an additional 10,000 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Anixa Biosciences in the second quarter valued at $30,000. Corient Private Wealth LP grew its holdings in shares of Anixa Biosciences by 87.0% during the second quarter. Corient Private Wealth LP now owns 37,400 shares of the company's stock worth $105,000 after purchasing an additional 17,400 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Anixa Biosciences during the second quarter worth about $41,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Anixa Biosciences during the second quarter worth about $38,000. Institutional investors and hedge funds own 29.13% of the company's stock.

About Anixa Biosciences

Anixa Biosciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies and vaccines for cancer and other serious diseases. The company's programs are designed to use the immune system to identify and attack disease-associated targets.

Anixa's oncology pipeline has included a chimeric antigen receptor T-cell (CAR-T) therapy targeting the follicle-stimulating hormone receptor, which is being investigated as a potential treatment for ovarian cancer and other cancers.

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