Anixa Biosciences (NASDAQ:ANIX) Shares Cross Below 200-Day Moving Average – Should You Sell?

Anixa Biosciences Inc (NASDAQ:ANIX) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $2.96 and traded as low as $2.77. Anixa Biosciences shares last traded at $2.78, with a volume of 278,449 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Zacks Research downgraded shares of Anixa Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Weiss Ratings raised shares of Anixa Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 17th. Citigroup reiterated a “buy” rating on shares of Anixa Biosciences in a research note on Tuesday, October 6th. HC Wainwright decreased their price target on Anixa Biosciences from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. Finally, Wall Street Zen cut Anixa Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.00.

Anixa Biosciences Stock Performance

The business’s fifty day simple moving average is $2.89 and its 200-day simple moving average is $2.96. The firm has a market capitalization of $91.07 million, a PE ratio of -8.19 and a beta of 0.47.

Anixa Biosciences (NASDAQ:ANIX) last released its quarterly earnings data on Wednesday, September 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). Sell-side analysts expect that Anixa Biosciences Inc will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at Anixa Biosciences

In related news, Director Lewis Titterton, Jr. purchased 49,036 shares of Anixa Biosciences stock in a transaction on Wednesday, September 23rd. The shares were bought at an average cost of $2.69 per share, for a total transaction of $131,906.84. Following the acquisition, the director owned 1,046,003 shares in the company, valued at approximately $2,813,748.07. The trade was a 4.92% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have acquired 105,536 shares of company stock valued at $291,587. Insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

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

Anixa Biosciences Company Profile

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.