Anixa Biosciences (NASDAQ:ANIX) Stock: Insider Michael Catelani Buys 5,500 Shares

Key Points

• Insider buying: CFO Michael Catelani purchased 5,500 Anixa Biosciences shares at an average $2.84 each, increasing his direct stake by 12.36% to 50,000 shares.
• Stock performance: ANIX shares rose 2.8% to $2.93, compared with a 12-month range of $2.32 to $5.46. The company reported quarterly EPS of -$0.08, in line with analyst expectations.
• Analyst outlook: Ratings are mixed, but the consensus view is “Hold” with an $8.00 price target; institutional investors own approximately 29.13% of the company.

Anixa Biosciences Inc (NASDAQ:ANIX - Get Free Report) CFO Michael Catelani purchased 5,500 shares of the business's stock in a transaction that occurred on Wednesday, September 30th. The shares were purchased at an average price of $2.84 per share, for a total transaction of $15,620.00. Following the completion of the acquisition, the chief financial officer directly owned 50,000 shares in the company, valued at $142,000. The trade was a 12.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Anixa Biosciences Trading Up 2.8%

Shares of NASDAQ ANIX traded up $0.08 during midday trading on Wednesday, hitting $2.93. The company's stock had a trading volume of 178,371 shares, compared to its average volume of 205,258. Anixa Biosciences Inc has a 12-month low of $2.32 and a 12-month high of $5.46. The firm has a market cap of $101.86 million, a P/E ratio of -9.16 and a beta of 0.51. The business's 50 day moving average is $3.21 and its two-hundred day moving average is $2.97.

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

Institutional Trading of Anixa Biosciences

Several hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in Anixa Biosciences in the second quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Anixa Biosciences during the 2nd quarter worth about $29,000. Integrated Wealth Concepts LLC purchased a new stake in Anixa Biosciences in the 2nd quarter valued at about $30,000. Simplicity Wealth LLC acquired a new position in Anixa Biosciences in the second quarter valued at about $34,000. Finally, NewEdge Wealth LLC purchased a new position in Anixa Biosciences during the second quarter worth about $35,000. Hedge funds and other institutional investors own 29.13% of the company's stock.

Analysts Set New Price Targets

ANIX has been the topic of a number of recent research reports. Weiss Ratings raised Anixa Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 17th. D. Boral Capital reaffirmed a "buy" rating and issued a $10.00 price target on shares of Anixa Biosciences in a research report on Tuesday, June 30th. Zacks Research downgraded shares of Anixa Biosciences from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 19th. Wall Street Zen raised Anixa Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Finally, HC Wainwright lowered their price target 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. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $8.00.

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.

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