Anixa Biosciences (NASDAQ:ANIX) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Anixa Biosciences from “hold” to “strong-buy,” adding to a generally positive analyst backdrop. The stock now carries a consensus rating of Moderate Buy with an average price target of $8.50.
• ANIX reported a smaller-than-expected loss in its latest quarterly results, posting EPS of ($0.07) versus expectations of ($0.10). Analysts currently expect the company to lose $0.31 per share for the full year.
• Insider buying and institutional ownership remain notable, with CEO Amit Kumar purchasing 21,000 shares and insiders owning about 26.4% of the company. Hedge funds and other institutional investors hold roughly 29.13% of shares outstanding.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. Citigroup restated a "buy" rating on shares of Anixa Biosciences in a report on Friday, June 12th. Wall Street Zen upgraded Anixa Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. D. Boral Capital reissued a "buy" rating and issued a $10.00 target price on shares of Anixa Biosciences in a report on Tuesday, June 30th. Weiss Ratings restated a "sell (e+)" rating on shares of Anixa Biosciences in a research report on Wednesday, June 17th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Anixa Biosciences in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $8.50.

Anixa Biosciences Stock Performance

ANIX opened at $3.52 on Tuesday. The stock has a market capitalization of $119.75 million, a price-to-earnings ratio of -11.35 and a beta of 0.59. The company has a fifty day moving average of $2.86 and a 200 day moving average of $2.91. Anixa Biosciences has a fifty-two week low of $2.32 and a fifty-two week high of $5.46.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last released its quarterly earnings data on Wednesday, June 10th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03. On average, equities research analysts forecast that Anixa Biosciences will post -0.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Amit Kumar acquired 21,000 shares of Anixa Biosciences stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $2.50 per share, with a total value of $52,500.00. Following the completion of the purchase, the chief executive officer directly owned 630,812 shares of the company's stock, valued at $1,577,030. The trade was a 3.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased 28,836 shares of company stock worth $75,187 over the last quarter. Insiders own 26.40% of the company's stock.

Hedge Funds Weigh In On Anixa Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of ANIX. Vanguard Group Inc. raised its holdings in Anixa Biosciences by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,422,342 shares of the company's stock valued at $4,694,000 after buying an additional 29,436 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Anixa Biosciences by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 350,915 shares of the company's stock worth $1,095,000 after acquiring an additional 7,271 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Anixa Biosciences by 1.7% during the 3rd quarter. Bank of America Corp DE now owns 213,955 shares of the company's stock worth $706,000 after purchasing an additional 3,645 shares during the period. State Street Corp boosted its stake in shares of Anixa Biosciences by 32.0% during the 4th quarter. State Street Corp now owns 159,040 shares of the company's stock worth $496,000 after purchasing an additional 38,540 shares during the period. Finally, 683 Capital Management LLC bought a new position in Anixa Biosciences during the 4th quarter valued at about $355,000. Hedge funds and other institutional investors own 29.13% of the company's stock.

About Anixa Biosciences

Anixa Biosciences is a clinical-stage immuno-oncology and infectious disease company developing novel cell-based immunotherapies and vaccine platforms. Through its Anixa Therapeutics division, the company is advancing antibody and T-cell modalities, including an ovarian cancer immunotherapy candidate and a COVID-19 vaccine leveraging a proprietary virus-like particle (VLP) technology. Its research pipeline emphasizes modular vaccine design and personalized cancer cell therapy aimed at inducing durable immune responses against solid tumors.

In parallel, Anixa Diagnostics is developing the ADAPT diagnostic platform, a high-throughput proteomics approach using engineered peptides derived from spider venom.

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