Anixa Biosciences (NASDAQ:ANIX) Trading Down 0.6% - Here's Why

Anixa Biosciences Inc (NASDAQ:ANIX - Get Free Report) dropped 0.6% during trading on Monday . The company traded as low as $3.15 and last traded at $3.21. Approximately 109,467 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 104,636 shares. The stock had previously closed at $3.23.

Analyst Upgrades and Downgrades

ANIX has been the subject of a number of recent research reports. D. Boral Capital reiterated a "buy" rating and issued a $10.00 target price on shares of Anixa Biosciences in a research report on Tuesday, June 10th. HC Wainwright reaffirmed a "buy" rating and set a $7.00 target price on shares of Anixa Biosciences in a research note on Tuesday, March 25th. Wall Street Zen raised shares of Anixa Biosciences from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Maxim Group started coverage on shares of Anixa Biosciences in a research note on Friday, March 21st. They issued a "buy" rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $9.00.

Anixa Biosciences Stock Down 0.6%

The business's fifty day simple moving average is $2.98 and its two-hundred day simple moving average is $2.84. The company has a market cap of $103.39 million, a price-to-earnings ratio of -8.45 and a beta of 0.39.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last announced its 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. Sell-side analysts predict that Anixa Biosciences Inc will post -0.41 EPS for the current fiscal year.

Insider Transactions at Anixa Biosciences

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

Hedge Funds Weigh In On Anixa Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC purchased a new stake in shares of Anixa Biosciences in the 4th quarter worth about $26,000. Private Advisor Group LLC purchased a new position in shares of Anixa Biosciences during the 1st quarter worth about $35,000. Renaissance Technologies LLC raised its holdings in Anixa Biosciences by 36.5% in the fourth quarter. Renaissance Technologies LLC now owns 14,573 shares of the company's stock valued at $34,000 after buying an additional 3,900 shares during the period. Prosperity Wealth Management Inc. purchased a new position in Anixa Biosciences in the fourth quarter valued at approximately $54,000. Finally, Jane Street Group LLC purchased a new position in Anixa Biosciences in the fourth quarter valued at approximately $67,000. 29.13% of the stock is owned by institutional investors and hedge funds.

Anixa Biosciences Company Profile

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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