Anixa Biosciences (NASDAQ:ANIX) Trading Up 4.4% - Here's What Happened

Key Points

• Anixa Biosciences shares increased by 4.4%, reaching a high of $4.70 during trading, with an average daily volume decline to approximately 285,927 shares.
• Equity analysts have a consensus rating of "Moderate Buy" for the company, with price targets ranging from $7.00 to $10.00 from various firms.
• Insider trading activity includes a purchase of 10,000 shares by Director Lewis H. Titterton, Jr., indicating ongoing confidence in the company's prospects.

Shares of Anixa Biosciences Inc (NASDAQ:ANIX - Get Free Report) were up 4.4% during mid-day trading on Monday . The stock traded as high as $4.70 and last traded at $4.52. Approximately 285,927 shares were traded during mid-day trading, a decline of 2% from the average daily volume of 292,770 shares. The stock had previously closed at $4.33.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ANIX shares. HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of Anixa Biosciences in a report on Thursday, September 11th. D. Boral Capital reissued a "buy" rating and issued a $10.00 price objective on shares of Anixa Biosciences in a report on Tuesday, October 7th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Anixa Biosciences in a report on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $9.00.

Anixa Biosciences Trading Up 4.4%

The company has a market cap of $148.80 million, a price-to-earnings ratio of -12.91 and a beta of 0.69. The business has a fifty day moving average of $3.27 and a two-hundred day moving average of $3.07.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last released its quarterly earnings results on Wednesday, September 10th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.03. On average, research analysts forecast that Anixa Biosciences Inc will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Lewis H. Titterton, Jr. acquired 10,000 shares of the business's stock in a transaction on Thursday, July 31st. The stock was bought at an average cost of $3.08 per share, for a total transaction of $30,800.00. Following the purchase, the director owned 953,334 shares in the company, valued at approximately $2,936,268.72. This represents a 1.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders purchased 20,000 shares of company stock worth $63,550. 25.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Anixa Biosciences

Large investors have recently bought and sold shares of the company. Private Advisor Group LLC purchased a new stake in Anixa Biosciences during the 1st quarter worth approximately $35,000. Jane Street Group LLC increased its stake in Anixa Biosciences by 37.2% during the 2nd quarter. Jane Street Group LLC now owns 41,800 shares of the company's stock worth $138,000 after buying an additional 11,340 shares in the last quarter. Marshall Wace LLP purchased a new stake in Anixa Biosciences during the 2nd quarter worth approximately $39,000. Benjamin Edwards Inc. purchased a new stake in Anixa Biosciences during the 2nd quarter worth approximately $37,000. Finally, NewEdge Advisors LLC purchased a new stake in Anixa Biosciences during the 2nd quarter worth approximately $33,000. 29.13% of the stock is currently 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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