Anixa Biosciences (NASDAQ:ANIX) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Anixa Biosciences from “strong buy” to “hold,” bringing the overall analyst consensus to “Hold” with an average price target of $8.50.
• Despite the downgrade, three analysts maintain “Buy” ratings, including D. Boral Capital with a $10 price target, while the stock opened at $3.59 and has traded between $2.32 and $5.46 over the past year.
• Anixa reported quarterly EPS of -$0.07, beating estimates of -$0.10. CEO Amit Kumar and other insiders have purchased roughly 50,024 shares over the past 90 days, while institutional investors own 29.13% of the company.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Wednesday,Zacks.com reports.

A number of other analysts have also commented on the stock. D. Boral Capital reiterated a "buy" rating and issued a $10.00 price target on shares of Anixa Biosciences in a research note on Tuesday, June 30th. Wall Street Zen upgraded shares of Anixa Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Weiss Ratings upgraded shares of Anixa Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday. HC Wainwright reaffirmed a "buy" rating on shares of Anixa Biosciences in a research report on Friday, June 12th. Finally, Citigroup reiterated a "buy" rating on shares of Anixa Biosciences in a research note on Friday, June 12th. Three equities research 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's stock. According to data from MarketBeat, Anixa Biosciences currently has a consensus rating of "Hold" and a consensus target price of $8.50.

Anixa Biosciences Price Performance

Shares of NASDAQ:ANIX opened at $3.59 on Wednesday. The company has a market cap of $122.14 million, a P/E ratio of -11.58 and a beta of 0.55. Anixa Biosciences has a 1 year low of $2.32 and a 1 year high of $5.46. The stock's fifty day moving average price is $3.19 and its 200-day moving average price is $2.95.

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, topping the consensus estimate of ($0.10) by $0.03. On average, sell-side analysts anticipate that Anixa Biosciences will post -0.31 earnings per share for the current year.

Insider Buying and Selling at Anixa Biosciences

In other Anixa Biosciences news, CEO Amit Kumar purchased 21,000 shares of the company's stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $2.50 per share, for a total transaction of $52,500.00. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have acquired 50,024 shares of company stock worth $148,971. Company insiders own 26.40% of the company's stock.

Hedge Funds Weigh In On Anixa Biosciences

A number of institutional investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board bought a new position in shares of Anixa Biosciences during the 2nd quarter valued at approximately $38,000. Sanctuary Advisors LLC purchased a new stake in Anixa Biosciences in the 2nd quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. bought a new stake in Anixa Biosciences during the 2nd quarter worth approximately $29,000. BlackRock Inc. bought a new stake in Anixa Biosciences during the 2nd quarter worth approximately $559,000. Finally, Bank of New York Mellon Corp purchased a new position in Anixa Biosciences during the second quarter valued at approximately $133,000. 29.13% of the stock is owned by institutional investors.

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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