Anixa Biosciences (NASDAQ:ANIX) Rating Increased to Hold at Wall Street Zen

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

Other analysts have also recently issued reports about the stock. Maxim Group began coverage on shares of Anixa Biosciences in a research note on Friday, March 21st. They issued a "buy" rating and a $10.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $7.00 target price on shares of Anixa Biosciences in a report on Tuesday, March 25th. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $10.00 target price on shares of Anixa Biosciences in a report on Thursday, May 29th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $9.00.

Anixa Biosciences Stock Performance

ANIX traded down $0.08 during midday trading on Friday, reaching $2.76. The company had a trading volume of 80,922 shares, compared to its average volume of 90,247. The stock has a market cap of $88.90 million, a PE ratio of -7.08 and a beta of 0.34. Anixa Biosciences has a 12-month low of $2.07 and a 12-month high of $4.20. The business has a 50-day moving average price of $2.66 and a two-hundred day moving average price of $2.79.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. On average, research analysts anticipate that Anixa Biosciences will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Amit Kumar bought 10,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was purchased at an average cost of $2.85 per share, with a total value of $28,500.00. Following the transaction, the chief executive officer now owns 569,925 shares in the company, valued at approximately $1,624,286.25. This trade represents a 1.79% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 25.30% of the company's stock.

Institutional Investors Weigh In On Anixa Biosciences

Several institutional investors and hedge funds have recently modified their holdings of ANIX. Millennium Management LLC purchased a new position in Anixa Biosciences during the 4th quarter valued at about $26,000. Private Advisor Group LLC bought a new stake in shares of Anixa Biosciences in the first quarter worth approximately $35,000. Renaissance Technologies LLC grew its stake in shares of Anixa Biosciences by 36.5% in the fourth quarter. Renaissance Technologies LLC now owns 14,573 shares of the company's stock worth $34,000 after acquiring an additional 3,900 shares during the period. Prosperity Wealth Management Inc. bought a new stake in Anixa Biosciences during the fourth quarter valued at approximately $54,000. Finally, Jane Street Group LLC bought a new stake in Anixa Biosciences during the fourth quarter valued at approximately $67,000. 29.13% of the stock is owned by hedge funds and other institutional investors.

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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