HC Wainwright Cuts Anixa Biosciences (NASDAQ:ANIX) Price Target to $6.00

Anixa Biosciences (NASDAQ:ANIX) had its price target lowered by HC Wainwright from $7.00 to $6.00 in a report issued on Tuesday, MarketBeat reports. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently issued reports on ANIX. Zacks Research downgraded shares of Anixa Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Wall Street Zen raised shares of Anixa Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings upgraded shares of 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 report on Friday, June 12th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $10.00 price target on shares of Anixa Biosciences in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.00.

Anixa Biosciences Price Performance

NASDAQ:ANIX opened at $2.78 on Tuesday. Anixa Biosciences has a 1 year low of $2.32 and a 1 year high of $5.46. The stock’s 50 day simple moving average is $3.25 and its two-hundred day simple moving average is $2.97. The company has a market cap of $96.63 million, a price-to-earnings ratio of -8.69 and a beta of 0.51.

Anixa Biosciences (NASDAQ:ANIX) last issued its quarterly earnings data on Wednesday, September 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). As a group, analysts anticipate that Anixa Biosciences will post -0.31 EPS for the current year.

Insider Buying and Selling

In other news, Director Lewis Titterton, Jr. acquired 10,000 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was bought at an average cost of $2.73 per share, with a total value of $27,300.00. Following the completion of the purchase, the director directly owned 996,967 shares of the company’s stock, valued at $2,721,719.91. This represents a 1.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired 44,188 shares of company stock worth $138,334 over the last ninety days. 26.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Anixa Biosciences

A number of large investors have recently made changes to their positions in ANIX. Sanctuary Advisors LLC purchased a new stake in Anixa Biosciences in the 2nd quarter worth about $29,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Anixa Biosciences during the second quarter valued at approximately $29,000. Integrated Wealth Concepts LLC bought a new position in shares of Anixa Biosciences during the second quarter valued at approximately $30,000. Simplicity Wealth LLC purchased a new stake in shares of Anixa Biosciences in the second quarter worth approximately $34,000. Finally, NewEdge Wealth LLC purchased a new stake in shares of Anixa Biosciences in the second quarter worth approximately $35,000. 29.13% of the stock is owned by hedge funds and other institutional investors.

About Anixa Biosciences

Anixa Biosciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies and vaccines for cancer and infectious diseases. The company’s research programs are designed to use the immune system to prevent or treat serious illnesses.

Anixa’s cancer programs include vaccine approaches for ovarian cancer and triple-negative breast cancer, developed in collaboration with researchers at Cleveland Clinic. The company is also developing chimeric antigen receptor T-cell, or CAR-T, therapies intended to target cancer cells, including programs focused on ovarian cancer.

In addition to oncology, Anixa has pursued vaccine and therapeutic technologies for infectious diseases.