Advaxis (ADXS) Trading Down 11.8% Following Analyst Downgrade
Shares of Advaxis, Inc. (NASDAQ:ADXS) were down 11.8% during trading on Tuesday after Cantor Fitzgerald lowered their price target on the stock from $19.00 to $5.00. Cantor Fitzgerald currently has an overweight rating on the stock. Advaxis traded as low as $1.75 and last traded at $1.95. Approximately 4,035,195 shares were traded during mid-day trading, an increase of 227% from the average daily volume of 1,232,556 shares. The stock had previously closed at $2.21.
Other analysts have also recently issued research reports about the stock. HC Wainwright set a $23.00 price objective on shares of Advaxis and gave the company a “buy” rating in a research note on Wednesday, December 27th. ValuEngine upgraded shares of Advaxis from a “strong sell” rating to a “sell” rating in a research note on Friday, February 2nd.
Several hedge funds and other institutional investors have recently made changes to their positions in ADXS. Wells Fargo & Company MN lifted its stake in shares of Advaxis by 2.6% in the second quarter. Wells Fargo & Company MN now owns 44,813 shares of the biotechnology company’s stock valued at $290,000 after purchasing an additional 1,144 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of Advaxis by 2.4% in the second quarter. TIAA CREF Investment Management LLC now owns 98,164 shares of the biotechnology company’s stock valued at $637,000 after purchasing an additional 2,329 shares during the period. Northern Trust Corp lifted its stake in shares of Advaxis by 4.4% in the second quarter. Northern Trust Corp now owns 456,817 shares of the biotechnology company’s stock valued at $2,965,000 after purchasing an additional 19,434 shares during the period. Vanguard Group Inc. lifted its stake in shares of Advaxis by 7.2% in the second quarter. Vanguard Group Inc. now owns 1,782,990 shares of the biotechnology company’s stock valued at $11,572,000 after purchasing an additional 119,980 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Advaxis in the second quarter valued at about $352,000. Hedge funds and other institutional investors own 29.79% of the company’s stock.
Advaxis (NASDAQ:ADXS) last announced its quarterly earnings data on Monday, March 12th. The biotechnology company reported ($0.49) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.06. The firm had revenue of $2.06 million during the quarter, compared to analysts’ expectations of $3.03 million. Advaxis had a negative net margin of 940.64% and a negative return on equity of 131.78%. sell-side analysts predict that Advaxis, Inc. will post -2.36 EPS for the current year.
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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