Anixa Biosciences (NASDAQ:ANIX) Shares Break Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• Anixa Biosciences shares fell below their 200-day moving average, trading as low as $2.77 and last at $2.78, versus the average of $2.96.
• Analyst opinions are mixed, resulting in a consensus Hold rating and an $8.00 consensus price target; three analysts rate the stock Buy, one Hold, and one Sell.
• Company insiders bought 105,536 shares worth about $291,600 over the past three months, including a director’s purchase of 49,036 shares.

Anixa Biosciences Inc (NASDAQ:ANIX - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $2.96 and traded as low as $2.77. Anixa Biosciences shares last traded at $2.78, with a volume of 278,449 shares.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. 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 upgraded Anixa Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, September 17th. Citigroup restated a "buy" rating on shares of Anixa Biosciences in a research note on Tuesday, October 6th. Wall Street Zen lowered shares of Anixa Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, October 31st. Finally, HC Wainwright cut their price objective 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 issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Anixa Biosciences currently has a consensus rating of "Hold" and a consensus price target of $8.00.

Anixa Biosciences Trading Down 9.2%

The company has a market capitalization of $96.64 million, a PE ratio of -8.69 and a beta of 0.47. The firm has a 50 day simple moving average of $2.90 and a two-hundred day simple moving average of $2.96.

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, hitting the consensus estimate of ($0.08). Research analysts expect that Anixa Biosciences Inc will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Anixa Biosciences news, Director Lewis Titterton, Jr. bought 49,036 shares of the business's stock in a transaction dated Wednesday, September 23rd. The stock was acquired at an average cost of $2.69 per share, with a total value of $131,906.84. Following the purchase, the director owned 1,046,003 shares in the company, valued at approximately $2,813,748.07. This represents a 4.92% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought a total of 105,536 shares of company stock valued at $291,587 in the last three months. 26.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Anixa Biosciences

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

About Anixa Biosciences

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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