Advaxis, Inc. (NASDAQ:ADXS)’s share price was down 11.8% 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.
ADXS has been the subject of several other reports. HC Wainwright set a $23.00 target price on shares of Advaxis and gave the company a “buy” rating in a research note on Wednesday, December 27th. ValuEngine raised shares of Advaxis from a “strong sell” rating to a “sell” rating in a research report on Friday, February 2nd.
Hedge funds have recently added to or reduced their stakes in the business. Franklin Street Advisors Inc. NC boosted its position in Advaxis by 117.1% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 129,800 shares of the biotechnology company’s stock worth $369,000 after purchasing an additional 70,000 shares during the period. Dimensional Fund Advisors LP bought a new position in Advaxis during the second quarter worth $352,000. Vanguard Group Inc. boosted its position in Advaxis by 7.2% during the second quarter. Vanguard Group Inc. now owns 1,782,990 shares of the biotechnology company’s stock worth $11,572,000 after purchasing an additional 119,980 shares during the period. State Street Corp boosted its position in Advaxis by 7.8% during the second quarter. State Street Corp now owns 670,134 shares of the biotechnology company’s stock worth $4,352,000 after purchasing an additional 48,485 shares during the period. Finally, Bank of Montreal Can boosted its position in Advaxis by 16,465.9% during the fourth quarter. Bank of Montreal Can now owns 433,198 shares of the biotechnology company’s stock worth $1,230,000 after purchasing an additional 430,583 shares during the period. 29.79% of the stock is owned by hedge funds and other institutional investors.
Advaxis (NASDAQ:ADXS) last released its quarterly earnings data on Monday, March 12th. The biotechnology company reported ($0.49) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.06. Advaxis had a negative net margin of 776.63% and a negative return on equity of 114.00%. The firm had revenue of $2.06 million during the quarter, compared to analysts’ expectations of $3.03 million. sell-side analysts expect that Advaxis, Inc. will post -2.36 EPS for the current fiscal 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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