Anixa Biosciences Inc (NASDAQ:ANIX) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Anixa Biosciences has a consensus “Hold” rating from five analysts: three rate it Buy, one Hold, and one Sell. The average 12-month price target is $8.00.
• The stock opened at $3.17, within its 52-week range of $2.32–$5.46; its market capitalization is about $110 million.
• The company reported quarterly EPS of -$0.08, matching analyst estimates. Insiders bought 105,536 shares worth about $292,000 in the last quarter.

Anixa Biosciences Inc (NASDAQ:ANIX - Get Free Report) has earned an average recommendation of "Hold" from the five ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $8.00.

ANIX has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Anixa Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, October 31st. Weiss Ratings upgraded shares of Anixa Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 17th. Citigroup reissued a "buy" rating on shares of Anixa Biosciences in a report on Tuesday, October 6th. HC Wainwright decreased their target price on Anixa Biosciences from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday, September 22nd. Finally, Zacks Research cut Anixa Biosciences from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th.

Anixa Biosciences Stock Performance

NASDAQ ANIX opened at $3.17 on Monday. The company has a market capitalization of $110.20 million, a PE ratio of -9.91 and a beta of 0.47. The business's fifty day moving average is $2.92 and its 200 day moving average is $2.97. 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 issued its quarterly earnings results on Wednesday, September 9th. The company reported ($0.08) EPS for the quarter, hitting analysts' consensus estimates of ($0.08). On average, sell-side analysts forecast that Anixa Biosciences will post -0.31 EPS for the current year.

Insider Activity

In related news, Director Lewis Titterton, Jr. bought 49,036 shares of the business's stock in a transaction that occurred on Wednesday, September 23rd. The stock was bought at an average cost of $2.69 per share, with a total value of $131,906.84. Following the completion of the purchase, the director owned 1,046,003 shares of the company's stock, valued at approximately $2,813,748.07. The trade was a 4.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have purchased a total of 105,536 shares of company stock worth $291,587 in the last quarter. Company insiders own 26.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CoreCap Advisors LLC grew its position in Anixa Biosciences by 19.2% in the third quarter. CoreCap Advisors LLC now owns 62,020 shares of the company's stock worth $182,000 after acquiring an additional 10,000 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Anixa Biosciences during the second quarter valued at approximately $30,000. Corient Private Wealth LP raised its position in Anixa Biosciences by 87.0% during the second quarter. Corient Private Wealth LP now owns 37,400 shares of the company's stock valued at $105,000 after purchasing an additional 17,400 shares during the period. AXQ Capital LP bought a new stake in shares of Anixa Biosciences in the 2nd quarter valued at approximately $41,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Anixa Biosciences in the 2nd quarter worth approximately $38,000. 29.13% of the stock is currently owned by institutional investors.

Anixa Biosciences Company Profile

Anixa Biosciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies and vaccines for cancer and other serious diseases. The company's programs are designed to use the immune system to identify and attack disease-associated targets.

Anixa's oncology pipeline has included a chimeric antigen receptor T-cell (CAR-T) therapy targeting the follicle-stimulating hormone receptor, which is being investigated as a potential treatment for ovarian cancer and other cancers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.