Key Points
- CEO Amit Kumar bought 8,000 Anixa Biosciences shares at an average price of $2.72, investing $21,760 and increasing his direct holdings to 680,000 shares.
- The purchase continues a series of insider buys by Kumar since July, totaling multiple transactions as the stock traded between roughly $2.75 and $3.73 per share.
- Anixa shares opened at $2.78, with analysts holding a consensus “Hold” rating and an $8.00 price target; the company remains an unprofitable clinical-stage biotechnology firm focused on cancer and infectious-disease therapies.
Anixa Biosciences Inc (NASDAQ:ANIX - Get Free Report) CEO Amit Kumar bought 8,000 shares of the firm's stock in a transaction that occurred on Thursday, October 22nd. The stock was purchased at an average cost of $2.72 per share, with a total value of $21,760.00. Following the completion of the purchase, the chief executive officer directly owned 680,000 shares of the company's stock, valued at $1,849,600. This represents a 1.19% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Amit Kumar also recently made the following trade(s):
- On Thursday, September 24th, Amit Kumar bought 7,000 shares of Anixa Biosciences stock. The shares were purchased at an average price of $2.78 per share, for a total transaction of $19,460.00.
- On Thursday, September 10th, Amit Kumar purchased 3,000 shares of Anixa Biosciences stock. The shares were purchased at an average cost of $2.75 per share, for a total transaction of $8,250.00.
- On Thursday, September 10th, Amit Kumar purchased 5,000 shares of Anixa Biosciences stock. The shares were purchased at an average cost of $2.76 per share, for a total transaction of $13,800.00.
- On Friday, July 31st, Amit Kumar purchased 5,000 shares of Anixa Biosciences stock. The stock was purchased at an average price of $3.47 per share, with a total value of $17,350.00.
- On Friday, July 24th, Amit Kumar purchased 3,000 shares of Anixa Biosciences stock. The stock was purchased at an average price of $3.73 per share, with a total value of $11,190.00.
- On Monday, July 27th, Amit Kumar acquired 3,188 shares of Anixa Biosciences stock. The stock was purchased at an average cost of $3.37 per share, with a total value of $10,743.56.
- On Monday, July 27th, Amit Kumar acquired 5,000 shares of Anixa Biosciences stock. The stock was purchased at an average cost of $3.44 per share, with a total value of $17,200.00.
Anixa Biosciences Price Performance
Anixa Biosciences stock opened at $2.78 on Friday. The firm has a market capitalization of $96.63 million, a PE ratio of -8.69 and a beta of 0.47. The company's 50-day moving average is $3.00 and its 200-day moving average is $2.98. Anixa Biosciences Inc has a fifty-two week low of $2.32 and a fifty-two week high of $5.46.
Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last issued its earnings results on Wednesday, September 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.08). As a group, analysts expect that Anixa Biosciences Inc will post -0.31 EPS for the current year.
Hedge Funds Weigh In On Anixa Biosciences
Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of Anixa Biosciences by 13.6% in the first quarter. Renaissance Technologies LLC now owns 61,173 shares of the company's stock valued at $158,000 after purchasing an additional 7,300 shares during the period. CoreCap Advisors LLC lifted its stake in shares of Anixa Biosciences by 19.2% during the 3rd quarter. CoreCap Advisors LLC now owns 62,020 shares of the company's stock worth $182,000 after buying an additional 10,000 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Anixa Biosciences during the 2nd quarter worth about $29,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Anixa Biosciences during the 2nd quarter worth about $29,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Anixa Biosciences during the 2nd quarter worth about $30,000. 29.13% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on ANIX. Citigroup reiterated a "buy" rating on shares of Anixa Biosciences in a report on Tuesday, October 6th. HC Wainwright dropped their price objective on Anixa Biosciences from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday, September 22nd. Zacks Research cut Anixa Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Weiss Ratings raised Anixa Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 17th. Finally, D. Boral Capital reiterated a "buy" rating and set a $10.00 target price on shares of Anixa Biosciences in a research note 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 issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $8.00.
Check Out Our Latest Research Report on Anixa Biosciences
About Anixa Biosciences
(
Get Free Report)
Anixa Biosciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies and vaccines for cancer and infectious diseases. Rather than marketing a broad portfolio of commercial products, the company concentrates on advancing novel therapies through research collaborations and clinical development.
Anixa's cancer programs include a breast cancer vaccine intended to target alpha-lactalbumin, a protein associated with certain breast cancers. The program is being developed in collaboration with researchers at Cleveland Clinic.
Further Reading
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