Advaxis, Inc. (NASDAQ:ADXS) shares were down 21.5% during mid-day trading on Tuesday . The company traded as low as $0.55 and last traded at $0.64, approximately 21,429,207 shares changed hands during mid-day trading. An increase of 679% from the average daily volume of 2,749,650 shares. The stock had previously closed at $0.82.
Separately, Zacks Investment Research lowered Advaxis from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.
The stock has a 50-day simple moving average of $0.44 and a 200-day simple moving average of $0.93. The company has a market capitalization of $14.03 million, a price-to-earnings ratio of -0.03 and a beta of 3.44.
Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC raised its position in shares of Advaxis by 143.7% in the 2nd quarter. Renaissance Technologies LLC now owns 501,000 shares of the biotechnology company’s stock valued at $1,047,000 after purchasing an additional 295,444 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Advaxis by 71.1% in the 2nd quarter. Vanguard Group Inc. now owns 230,106 shares of the biotechnology company’s stock valued at $481,000 after purchasing an additional 95,607 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Advaxis by 53,633.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 51,047 shares of the biotechnology company’s stock valued at $107,000 after purchasing an additional 50,952 shares in the last quarter. Finally, Sabby Management LLC raised its position in shares of Advaxis by 3,547.9% in the 3rd quarter. Sabby Management LLC now owns 1,521,982 shares of the biotechnology company’s stock valued at $403,000 after purchasing an additional 1,480,260 shares in the last quarter. 30.56% of the stock is currently owned by institutional investors.
About Advaxis (NASDAQ:ADXS)
Advaxis, Inc, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of Listeria monocytogenes (Lm) technology based antigen delivery product in the United States. It is developing therapies for HPV-related cancers using axalimogene filolisbac (AXAL) for the treatment of head and neck cancer.
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