Anixa Biosciences (NASDAQ:ANIX) Stock: Insider Amit Kumar Purchases 8,000 Shares

Key Points

• CEO Amit Kumar purchased 8,000 ANIX shares at an average price of $2.72, investing $21,760 and increasing his direct holdings to 680,000 shares. The transaction continues a series of insider purchases in recent months.
• Anixa Biosciences shares rose 2.6% to $2.78, giving the company a market capitalization of approximately $96.6 million. The stock remains below its 50-day and 200-day moving averages and has traded between $2.32 and $5.46 over the past year.
• Analyst sentiment is mixed, with three Buy ratings, one Hold, and one Sell; the consensus rating is Hold, while the average price target is $8.00. The company reported quarterly EPS of negative $0.08, in line with estimates, and analysts expect a full-year loss.

Anixa Biosciences Inc (NASDAQ:ANIX - Get Free Report) CEO Amit Kumar bought 8,000 shares of the business's stock in a transaction on Thursday, October 22nd. The shares were bought at an average cost of $2.72 per share, for a total transaction of $21,760.00. Following the completion of the acquisition, the chief executive officer directly owned 680,000 shares in the company, valued at approximately $1,849,600. This trade represents a 1.19% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Amit Kumar also recently made the following trade(s):

• On Thursday, September 24th, Amit Kumar purchased 7,000 shares of Anixa Biosciences stock. The stock was bought at an average price of $2.78 per share, for a total transaction of $19,460.00.
• On Thursday, September 10th, Amit Kumar purchased 3,000 shares of Anixa Biosciences stock. The stock was bought at an average cost of $2.75 per share, with a total value of $8,250.00.
• On Thursday, September 10th, Amit Kumar acquired 5,000 shares of Anixa Biosciences stock. The shares were bought at an average price of $2.76 per share, with a total value of $13,800.00.
• On Friday, July 31st, Amit Kumar acquired 5,000 shares of Anixa Biosciences stock. The shares were bought at an average price of $3.47 per share, with a total value of $17,350.00.
• On Friday, July 24th, Amit Kumar acquired 3,000 shares of Anixa Biosciences stock. The stock was bought at an average cost of $3.73 per share, for a total transaction of $11,190.00.
• On Monday, July 27th, Amit Kumar acquired 3,188 shares of Anixa Biosciences stock. The stock was bought at an average cost of $3.37 per share, for a total transaction of $10,743.56.
• On Monday, July 27th, Amit Kumar bought 5,000 shares of Anixa Biosciences stock. The stock was bought at an average price of $3.44 per share, for a total transaction of $17,200.00.

Anixa Biosciences Trading Up 2.6%

ANIX stock traded up $0.07 during trading on Thursday, hitting $2.78. The company had a trading volume of 153,996 shares, compared to its average volume of 208,266. The stock has a market cap of $96.63 million, a PE ratio of -8.69 and a beta of 0.47. The business has a 50-day moving average of $3.01 and a 200-day moving average of $2.98. Anixa Biosciences Inc has a one year low of $2.32 and a one year high of $5.46.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last released its quarterly earnings results on Wednesday, September 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). Research analysts forecast that Anixa Biosciences Inc will post -0.31 EPS for the current year.

Hedge Funds Weigh In On Anixa Biosciences

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ANIX shares. Weiss Ratings raised shares of Anixa Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, September 17th. HC Wainwright dropped their target price on shares of Anixa Biosciences from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Tuesday, September 22nd. Citigroup reaffirmed a "buy" rating on shares of Anixa Biosciences in a research report on Tuesday, October 6th. D. Boral Capital reiterated a "buy" rating and set a $10.00 price target on shares of Anixa Biosciences in a report on Tuesday, June 30th. Finally, Zacks Research lowered Anixa Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Anixa Biosciences has a consensus rating of "Hold" and a consensus price target of $8.00.

About Anixa Biosciences

Anixa Biosciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies and vaccines for cancer and infectious diseases. Rather than marketing a broad portfolio of commercial products, the company concentrates on advancing novel therapies through research collaborations and clinical development.

Anixa's cancer programs include a breast cancer vaccine intended to target alpha-lactalbumin, a protein associated with certain breast cancers. The program is being developed in collaboration with researchers at Cleveland Clinic.

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