Advaxis (NASDAQ:ADXS) Stock Price Down 21.5%

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.

Advaxis (NASDAQ:ADXS) last announced its earnings results on Monday, September 9th. The biotechnology company reported ($1.00) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.24) by $0.24. Advaxis had a negative return on equity of 67.08% and a negative net margin of 113.67%. The company had revenue of $0.01 million for the quarter.

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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