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

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

Analysts Set New Price Targets

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

Anixa Biosciences Price Performance

The stock has a market cap of $101.14 million, a PE ratio of -8.26 and a beta of 0.39. The business has a 50 day moving average price of $3.00 and a 200 day moving average price of $2.85.

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

Insider Activity at Anixa Biosciences

In related news, CEO Amit Kumar bought 10,000 shares of the stock in a transaction dated Wednesday, June 4th. The shares were purchased at an average price of $2.85 per share, for a total transaction of $28,500.00. Following the completion of the purchase, the chief executive officer directly owned 569,925 shares of the company's stock, valued at $1,624,286.25. This represents a 1.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 25.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Anixa Biosciences

Large investors have recently bought and sold shares of the business. Millennium Management LLC acquired a new position in Anixa Biosciences in the 4th quarter worth about $26,000. Private Advisor Group LLC acquired a new position in Anixa Biosciences in the 1st quarter worth about $35,000. Renaissance Technologies LLC raised its holdings in Anixa Biosciences by 36.5% in the 4th quarter. Renaissance Technologies LLC now owns 14,573 shares of the company's stock worth $34,000 after purchasing an additional 3,900 shares during the period. Prosperity Wealth Management Inc. acquired a new position in Anixa Biosciences in the 4th quarter worth about $54,000. Finally, Jane Street Group LLC acquired a new position in Anixa Biosciences in the 4th quarter worth about $67,000. 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.