Weiss Ratings Reaffirms Sell (E+) Rating for Anixa Biosciences (NASDAQ:ANIX)

Key Points

• Weiss Ratings has reaffirmed its sell (E+) rating for Anixa Biosciences (NASDAQ:ANIX), despite some analysts maintaining buy ratings and setting a price target of up to $10.00.
• The stock recently traded at $4.31, with a 12-month range of $2.07 to $4.98 and a market capitalization of approximately $141.89 million.
• Insiders have purchased 20,000 shares over the last three months, highlighting some level of confidence in the company's future performance.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities researchers at Weiss Ratings in a research report issued on Tuesday,Weiss Ratings reports.

A number of other equities research analysts also recently issued reports on ANIX. D. Boral Capital restated a "buy" rating and set a $10.00 price target on shares of Anixa Biosciences in a research note on Tuesday, October 7th. HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of Anixa Biosciences in a research report on Thursday, September 11th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $9.00.

Anixa Biosciences Price Performance

NASDAQ ANIX traded down $0.21 during trading hours on Tuesday, hitting $4.31. The company's stock had a trading volume of 136,371 shares, compared to its average volume of 123,248. Anixa Biosciences has a 12 month low of $2.07 and a 12 month high of $4.98. The company's 50 day simple moving average is $3.27 and its two-hundred day simple moving average is $3.07. The company has a market cap of $141.89 million, a P/E ratio of -12.31 and a beta of 0.69.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last announced its quarterly earnings results on Wednesday, September 10th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.03. As a group, research analysts predict that Anixa Biosciences will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Anixa Biosciences

In other news, Director Lewis H. Titterton, Jr. purchased 10,000 shares of the company's stock in a transaction on Thursday, July 31st. The stock was acquired at an average cost of $3.08 per share, for a total transaction of $30,800.00. Following the completion of the transaction, the director directly owned 953,334 shares in the company, valued at $2,936,268.72. This trade represents a 1.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased 20,000 shares of company stock valued at $63,550 in the last three months. Corporate insiders own 25.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ANIX. NewEdge Advisors LLC bought a new position in Anixa Biosciences in the 2nd quarter worth approximately $33,000. Benjamin Edwards Inc. bought a new position in shares of Anixa Biosciences during the second quarter worth $37,000. Jane Street Group LLC boosted its position in shares of Anixa Biosciences by 37.2% during the second quarter. Jane Street Group LLC now owns 41,800 shares of the company's stock worth $138,000 after acquiring an additional 11,340 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Anixa Biosciences during the second quarter worth $39,000. Finally, Private Advisor Group LLC bought a new position in shares of Anixa Biosciences during the 1st quarter valued at about $35,000. Institutional investors own 29.13% of the company's stock.

About Anixa Biosciences

Anixa Biosciences, Inc, a biotechnology company, develops therapies and vaccines focusing on critical unmet needs in oncology and infectious diseases. The company's therapeutics programs include the development of a chimeric endocrine receptor T-cell therapy, a novel form of chimeric antigen receptor T-cell (CAR-T) technology focusing on the treatment of ovarian cancer.

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