Insider Buying: Anixa Biosciences (NASDAQ:ANIX) CEO Buys $19,460.00 in Stock

Key Points

• CEO Amit Kumar purchased 7,000 Anixa Biosciences shares at an average price of $2.78, investing $19,460 and increasing his direct ownership by 1.05% to 672,000 shares.
• The purchase continues a series of insider acquisitions by Kumar, who has bought shares in multiple transactions since July, signaling ongoing insider buying despite the stock’s recent decline.
• ANIX opened at $2.78, below its 50-day moving average of $3.24, while analysts maintain a consensus “Hold” rating with an $8.00 price target; the company remains a clinical-stage biotechnology firm focused on cancer immunotherapies and vaccines.

Anixa Biosciences Inc (NASDAQ:ANIX - Get Free Report) CEO Amit Kumar acquired 7,000 shares of Anixa Biosciences stock in a transaction that occurred on Thursday, September 24th. The shares were bought at an average price of $2.78 per share, with a total value of $19,460.00. Following the transaction, the chief executive officer directly owned 672,000 shares in the company, valued at approximately $1,868,160. This trade represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, September 10th, Amit Kumar acquired 3,000 shares of Anixa Biosciences stock. The stock was purchased at an average price of $2.75 per share, for a total transaction of $8,250.00.
• On Thursday, September 10th, Amit Kumar bought 5,000 shares of Anixa Biosciences stock. The shares were acquired at an average cost of $2.76 per share, for a total transaction of $13,800.00.
• On Friday, July 31st, Amit Kumar bought 5,000 shares of Anixa Biosciences stock. The shares were bought at an average cost of $3.47 per share, for a total transaction of $17,350.00.
• On Friday, July 24th, Amit Kumar acquired 3,000 shares of Anixa Biosciences stock. The shares were bought at an average price of $3.73 per share, for a total transaction of $11,190.00.
• On Monday, July 20th, Amit Kumar purchased 5,000 shares of Anixa Biosciences stock. The shares were purchased at an average price of $3.46 per share, for a total transaction of $17,300.00.
• On Monday, July 27th, Amit Kumar bought 3,188 shares of Anixa Biosciences stock. The shares were purchased at an average cost of $3.37 per share, for a total transaction of $10,743.56.
• On Monday, July 27th, Amit Kumar purchased 5,000 shares of Anixa Biosciences stock. The stock was acquired at an average price of $3.44 per share, for a total transaction of $17,200.00.
• On Friday, July 10th, Amit Kumar acquired 5,000 shares of Anixa Biosciences stock. The stock was acquired at an average cost of $3.04 per share, for a total transaction of $15,200.00.

Anixa Biosciences Price Performance

NASDAQ ANIX opened at $2.78 on Monday. The company's 50 day simple moving average is $3.24 and its 200 day simple moving average is $2.97. Anixa Biosciences Inc has a 12 month low of $2.32 and a 12 month high of $5.46. The company has a market capitalization of $96.63 million, a P/E ratio of -8.69 and a beta of 0.51.

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

Wall Street Analysts Forecast Growth

ANIX has been the topic of a number of recent analyst reports. HC Wainwright cut their target price on Anixa Biosciences from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Tuesday, September 22nd. Zacks Research lowered Anixa Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Weiss Ratings raised Anixa Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, September 17th. D. Boral Capital reissued a "buy" rating and issued a $10.00 price target on shares of Anixa Biosciences in a research note on Tuesday, June 30th. Finally, Citigroup reissued a "buy" rating on shares of Anixa Biosciences in a research note on Friday, June 12th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $8.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ANIX. BlackRock Inc. bought a new position in Anixa Biosciences during the second quarter worth about $559,000. AXQ Capital LP acquired a new position in Anixa Biosciences in the 2nd quarter worth $41,000. Corient Private Wealth LP bought a new stake in Anixa Biosciences in the 2nd quarter valued at approximately $105,000. Canada Pension Plan Investment Board acquired a new position in Anixa Biosciences during the 2nd quarter worth approximately $38,000. Finally, Sanctuary Advisors LLC bought a new stake in Anixa Biosciences during the 2nd quarter worth about $29,000. 29.13% of the stock is owned by institutional investors.

About Anixa Biosciences

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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