Anixa Biosciences (NASDAQ:ANIX) Stock: Insider Arnold Baskies Purchases 5,000 Shares

Key Points

• Director Arnold Baskies bought 5,000 Anixa Biosciences shares at an average price of $2.76, investing $13,800 and increasing his direct holdings by 3.69% to 140,572 shares.
• Anixa’s shares opened at $2.78, with a market capitalization of approximately $96.6 million and a 52-week trading range of $2.32 to $5.46. The company reported quarterly EPS of negative $0.08, in line with analyst expectations.
• Analysts have a consensus “Hold” rating and an average price target of $8.00, while institutional investors own 29.13% of the company’s stock.

Anixa Biosciences Inc (NASDAQ:ANIX - Get Free Report) Director Arnold Baskies purchased 5,000 shares of the firm's stock in a transaction on Thursday, September 24th. The shares were acquired at an average price of $2.76 per share, with a total value of $13,800.00. Following the purchase, the director directly owned 140,572 shares in the company, valued at $387,978.72. This represents a 3.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Anixa Biosciences Stock Performance

Shares of NASDAQ ANIX opened at $2.78 on Monday. The stock has a market cap of $96.63 million, a price-to-earnings ratio of -8.69 and a beta of 0.51. Anixa Biosciences Inc has a fifty-two week low of $2.32 and a fifty-two week high of $5.46. The firm's 50-day simple moving average is $3.24 and its 200 day simple moving average is $2.97.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last released its quarterly earnings results on Wednesday, September 9th. The company reported ($0.08) EPS for the quarter, meeting analysts' consensus estimates of ($0.08). On average, sell-side analysts predict that Anixa Biosciences Inc will post -0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ANIX shares. Zacks Research downgraded shares of Anixa Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. D. Boral Capital restated a "buy" rating and issued a $10.00 target price on shares of Anixa Biosciences in a research note on Tuesday, June 30th. HC Wainwright cut their target price on shares of Anixa Biosciences from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Tuesday, September 22nd. Citigroup reissued a "buy" rating on shares of Anixa Biosciences in a research note on Friday, June 12th. Finally, Wall Street Zen raised Anixa Biosciences from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Anixa Biosciences presently has a consensus rating of "Hold" and an average target price of $8.00.

Hedge Funds Weigh In On Anixa Biosciences

A number of hedge funds have recently bought and sold shares of ANIX. Sanctuary Advisors LLC bought a new position in shares of Anixa Biosciences in the second quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. purchased a new position in Anixa Biosciences in the second quarter worth about $29,000. Integrated Wealth Concepts LLC bought a new stake in Anixa Biosciences during the second quarter valued at approximately $30,000. Simplicity Wealth LLC purchased a new stake in shares of Anixa Biosciences in the 2nd quarter worth $34,000. Finally, NewEdge Wealth LLC bought a new position in shares of Anixa Biosciences in the second quarter worth about $35,000. Institutional investors own 29.13% of the company's stock.

Anixa Biosciences Company Profile

Anixa Biosciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies and vaccines for cancer and infectious diseases. The company's research programs are designed to use the immune system to prevent or treat serious illnesses.

Anixa's cancer programs include vaccine approaches for ovarian cancer and triple-negative breast cancer, developed in collaboration with researchers at Cleveland Clinic. The company is also developing chimeric antigen receptor T-cell, or CAR-T, therapies intended to target cancer cells, including programs focused on ovarian cancer.

In addition to oncology, Anixa has pursued vaccine and therapeutic technologies for infectious diseases.

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.