Anixa Biosciences Inc (ANIX) – What Are Analysts Saying About This Stock?

Anixa Biosciences Inc (NASDAQ:ANIX) has received an average recommendation of “Hold” from the five analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $8.00.

A number of research analysts have recently weighed in on ANIX shares. Weiss Ratings upgraded Anixa Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 17th. Wall Street Zen cut shares of Anixa Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Zacks Research downgraded Anixa Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. HC Wainwright lowered their price objective on shares of Anixa Biosciences from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. Finally, Citigroup restated a “buy” rating on shares of Anixa Biosciences in a report on Tuesday, October 6th.

Insiders Place Their Bets

In other news, Director Lewis Titterton, Jr. purchased 49,036 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was acquired at an average cost of $2.69 per share, for a total transaction of $131,906.84. Following the completion of the purchase, the director owned 1,046,003 shares of the company’s stock, valued at approximately $2,813,748.07. This trade represents a 4.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders purchased 105,536 shares of company stock worth $291,587. 26.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Anixa Biosciences

Several hedge funds have recently made changes to their positions in ANIX. Renaissance Technologies LLC raised its holdings in Anixa Biosciences by 13.6% during the first quarter. Renaissance Technologies LLC now owns 61,173 shares of the company’s stock valued at $158,000 after buying an additional 7,300 shares in the last quarter. CoreCap Advisors LLC raised its stake in Anixa Biosciences by 19.2% during the 3rd quarter. CoreCap Advisors LLC now owns 62,020 shares of the company’s stock valued at $182,000 after purchasing an additional 10,000 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Anixa Biosciences in the 2nd quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Anixa Biosciences during the 2nd quarter worth about $29,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Anixa Biosciences during the second quarter valued at approximately $30,000. Institutional investors and hedge funds own 29.13% of the company’s stock.

Anixa Biosciences Trading Down 2.2%

Shares of ANIX opened at $2.62 on Monday. The firm has a market capitalization of $91.07 million, a price-to-earnings ratio of -8.19 and a beta of 0.47. Anixa Biosciences has a twelve month low of $2.32 and a twelve month high of $5.46. The firm’s fifty day simple moving average is $2.88 and its 200-day simple moving average is $2.96.

Anixa Biosciences (NASDAQ:ANIX) last issued its quarterly earnings data on Wednesday, September 9th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). On average, analysts predict that Anixa Biosciences will post -0.31 earnings per share for the current fiscal year.

About Anixa Biosciences

Anixa Biosciences, Inc. is a U.S.-based biotechnology company focused on developing cancer immunotherapies. Its research programs include a CAR T-cell therapy designed to target ovarian cancer and cancer vaccine candidates developed with research partners. The company’s ovarian cancer program uses T cells engineered to recognize follicle-stimulating hormone receptors on cancer cells and is being developed in collaboration with Moffitt Cancer Center. Anixa is also working with Cleveland Clinic on a breast cancer vaccine program intended to stimulate an immune response against cancer-related targets.