Insider Buying: Anixa Biosciences (NASDAQ:ANIX) Director Buys 8,000 Shares of Stock

Key Points

• Director Lewis Titterton Jr. bought 8,000 Anixa Biosciences shares at an average price of $2.98, investing $23,840 and increasing his holdings by 0.76% to 1.05 million shares.
• ANIX shares fell 2% to $2.93, with the stock trading near its 50- and 200-day moving averages and well below its 52-week high of $5.46.
• Analyst sentiment is mixed: three analysts rate the stock a Buy, while others rate it Hold or Sell; the consensus rating is Hold with an $8.00 price target.

Anixa Biosciences Inc (NASDAQ:ANIX - Get Free Report) Director Lewis Titterton, Jr. purchased 8,000 shares of Anixa Biosciences stock in a transaction dated Friday, October 23rd. The shares were purchased at an average cost of $2.98 per share, with a total value of $23,840.00. Following the acquisition, the director owned 1,054,003 shares of the company's stock, valued at approximately $3,140,928.94. This trade represents a 0.76% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Anixa Biosciences Stock Down 2.0%

Shares of ANIX stock traded down $0.06 during trading hours on Monday, reaching $2.93. 135,562 shares of the stock traded hands, compared to its average volume of 208,512. Anixa Biosciences Inc has a 1-year low of $2.32 and a 1-year high of $5.46. The business has a fifty day moving average price of $3.00 and a 200 day moving average price of $2.99. The firm has a market capitalization of $101.85 million, a PE ratio of -9.16 and a beta of 0.47.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ANIX. Sanctuary Advisors LLC bought a new position in shares of Anixa Biosciences in the second quarter worth about $29,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Anixa Biosciences during the second quarter valued at approximately $29,000. Integrated Wealth Concepts LLC bought a new stake in shares of Anixa Biosciences during the second quarter valued at approximately $30,000. Simplicity Wealth LLC acquired a new stake in shares of Anixa Biosciences in the second quarter valued at approximately $34,000. Finally, NewEdge Wealth LLC acquired a new stake in shares of Anixa Biosciences in the second quarter valued at approximately $35,000. 29.13% of the stock is 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.

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