Anixa Biosciences (NASDAQ:ANIX) Announces Earnings Results

Key Points

• Anixa Biosciences reported quarterly earnings of ($0.07) EPS, exceeding analysts' expectations of (0.10) EPS by $0.03.
• The company's stock price increased to $3.02 following the earnings announcement, with an average rating of Buy from analysts and a price target of $9.00.
• Recent insider trading saw Director Lewis H. Titterton, Jr. purchase 10,000 shares at an average cost of $3.08, enhancing insider ownership to 25.30% of the company's stock.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.03, Zacks reports.

Anixa Biosciences Price Performance

ANIX stock traded up $0.04 during trading on Wednesday, hitting $3.02. 167,590 shares of the company traded hands, compared to its average volume of 102,842. Anixa Biosciences has a 1 year low of $2.07 and a 1 year high of $4.20. The company has a market cap of $97.28 million, a PE ratio of -7.95 and a beta of 0.58. The stock's 50-day simple moving average is $3.12 and its 200 day simple moving average is $2.97.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ANIX shares. Wall Street Zen raised Anixa Biosciences from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. D. Boral Capital reaffirmed a "buy" rating and set a $10.00 target price on shares of Anixa Biosciences in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $9.00.

Insider Activity at Anixa Biosciences

In other news, Director Lewis H. Titterton, Jr. bought 10,000 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was purchased at an average cost of $3.08 per share, with a total value of $30,800.00. Following the acquisition, the director directly owned 953,334 shares in the company, valued at $2,936,268.72. This trade represents a 1.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have purchased 35,000 shares of company stock worth $110,700. 25.30% of the stock is owned by company insiders.

Institutional Trading of Anixa Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new stake in shares of Anixa Biosciences during the 2nd quarter valued at about $37,000. Jane Street Group LLC boosted its position in Anixa Biosciences by 37.2% during the second quarter. Jane Street Group LLC now owns 41,800 shares of the company's stock worth $138,000 after purchasing an additional 11,340 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Anixa Biosciences in the second quarter valued at approximately $33,000. Finally, Marshall Wace LLP acquired a new stake in Anixa Biosciences in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 29.13% of the company's stock.

About Anixa Biosciences

Anixa Biosciences, Inc, a biotechnology company, develops therapies and vaccines focusing on critical unmet needs in oncology and infectious diseases. The company's therapeutics programs include the development of a chimeric endocrine receptor T-cell therapy, a novel form of chimeric antigen receptor T-cell (CAR-T) technology focusing on the treatment of ovarian cancer.

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