Advaxis (ADXS) Shares Gap Down Following Analyst Downgrade
Advaxis, Inc. (NASDAQ:ADXS)’s share price gapped down before the market opened on Wednesday after Cantor Fitzgerald lowered their price target on the stock from $19.00 to $5.00. The stock had previously closed at $2.12, but opened at $1.95. Cantor Fitzgerald currently has an overweight rating on the stock. Advaxis shares last traded at $1.94, with a volume of 849380 shares traded.
Other equities analysts have also issued reports about the stock. ValuEngine raised shares of Advaxis from a “strong sell” rating to a “sell” rating in a research report on Friday, February 2nd. HC Wainwright set a $23.00 target price on shares of Advaxis and gave the stock a “buy” rating in a research report on Wednesday, December 27th.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Advaxis by 7.2% during the second quarter. Vanguard Group Inc. now owns 1,782,990 shares of the biotechnology company’s stock worth $11,572,000 after acquiring an additional 119,980 shares during the period. State Street Corp increased its holdings in Advaxis by 7.8% during the second quarter. State Street Corp now owns 670,134 shares of the biotechnology company’s stock valued at $4,352,000 after buying an additional 48,485 shares during the period. Renaissance Technologies LLC purchased a new position in Advaxis during the fourth quarter valued at approximately $1,398,000. Deutsche Bank AG increased its holdings in Advaxis by 1,200.1% during the fourth quarter. Deutsche Bank AG now owns 467,324 shares of the biotechnology company’s stock valued at $1,326,000 after buying an additional 431,379 shares during the period. Finally, Northern Trust Corp increased its holdings in Advaxis by 4.4% during the second quarter. Northern Trust Corp now owns 456,817 shares of the biotechnology company’s stock valued at $2,965,000 after buying an additional 19,434 shares during the period. 29.79% of the stock is currently owned by institutional investors and hedge funds.
Advaxis (NASDAQ:ADXS) last issued its quarterly earnings data on Monday, March 12th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.06. The company had revenue of $2.06 million for the quarter, compared to analyst estimates of $3.03 million. Advaxis had a negative net margin of 940.64% and a negative return on equity of 131.78%. research analysts forecast that Advaxis, Inc. will post -2.36 earnings per share for the current fiscal year.
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Advaxis, Inc is a clinical-stage biotechnology company focused on the discovery, development and commercialization of Listeria monocytogenes (Lm)-Listeriolysin O (LLO) cancer immunotherapies. These immunotherapies are based on a platform technology that utilizes live attenuated Lm bioengineered to secrete antigen/adjuvant fusion proteins.
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