Anixa Biosciences Inc (NASDAQ:ANIX) Given Consensus Recommendation of “Hold” by Analysts

Shares of Anixa Biosciences Inc (NASDAQ:ANIX) have been given an average recommendation of “Hold” by the five ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $10.00.

Several analysts recently weighed in on the company. Zacks Research lowered shares of Anixa Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. HC Wainwright reissued a “buy” rating on shares of Anixa Biosciences in a research report on Friday, June 12th. Weiss Ratings raised shares of Anixa Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Citigroup restated a “buy” rating on shares of Anixa Biosciences in a 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 research report on Tuesday, June 30th.

Insiders Place Their Bets

In related news, Director Lewis Titterton, Jr. bought 10,000 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were acquired at an average price of $2.73 per share, with a total value of $27,300.00. Following the transaction, the director owned 996,967 shares of the company’s stock, valued at $2,721,719.91. The trade was a 1.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 44,188 shares of company stock worth $138,334 in the last ninety days. 26.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Anixa Biosciences

A number of hedge funds have recently made changes to their positions in ANIX. BlackRock Inc. bought a new stake in Anixa Biosciences during the second quarter valued at about $559,000. GSA Capital Partners LLP bought a new position in Anixa Biosciences in the second quarter worth about $329,000. Renaissance Technologies LLC raised its holdings in Anixa Biosciences by 13.6% in the first quarter. Renaissance Technologies LLC now owns 61,173 shares of the company’s stock worth $158,000 after purchasing an additional 7,300 shares in the last quarter. Kestra Advisory Services LLC lifted its position in shares of Anixa Biosciences by 96.2% during the first quarter. Kestra Advisory Services LLC now owns 51,000 shares of the company’s stock valued at $132,000 after buying an additional 25,000 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Anixa Biosciences during the second quarter valued at about $133,000. 29.13% of the stock is currently owned by hedge funds and other institutional investors.

Anixa Biosciences Stock Up 0.4%

Shares of NASDAQ ANIX opened at $2.77 on Friday. The business has a fifty day simple moving average of $3.30 and a two-hundred day simple moving average of $2.97. The firm has a market cap of $96.29 million, a PE ratio of -8.66 and a beta of 0.51. Anixa Biosciences has a twelve month low of $2.32 and a twelve month high of $5.46.

Anixa Biosciences (NASDAQ:ANIX) last issued its earnings results on Wednesday, September 9th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). On average, research analysts expect that Anixa Biosciences will post -0.31 earnings per share for the current year.

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.