HC Wainwright Trims Anixa Biosciences (NASDAQ:ANIX) Target Price to $7.00

Anixa Biosciences (NASDAQ:ANIXFree Report) had its price target cut by HC Wainwright from $12.00 to $7.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Anixa Biosciences’ FY2024 earnings at ($0.43) EPS.

Anixa Biosciences Stock Up 3.0 %

ANIX stock opened at $2.72 on Monday. The stock has a market capitalization of $87.06 million, a price-to-earnings ratio of -7.35 and a beta of 0.84. Anixa Biosciences has a 52-week low of $2.21 and a 52-week high of $5.13. The stock’s fifty day simple moving average is $2.87 and its 200-day simple moving average is $3.53.

Anixa Biosciences (NASDAQ:ANIXGet Free Report) last released its earnings results on Tuesday, June 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. As a group, analysts anticipate that Anixa Biosciences will post -0.44 earnings per share for the current fiscal year.

Insider Activity at Anixa Biosciences

In related news, Director Lewis H. Titterton, Jr. purchased 10,738 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average price of $2.52 per share, with a total value of $27,059.76. Following the completion of the transaction, the director now owns 848,775 shares of the company’s stock, valued at approximately $2,138,913. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Amit Kumar acquired 25,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were bought at an average cost of $2.41 per share, for a total transaction of $60,250.00. Following the acquisition, the chief executive officer now directly owns 516,925 shares in the company, valued at approximately $1,245,789.25. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Lewis H. Titterton, Jr. bought 10,738 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $2.52 per share, with a total value of $27,059.76. Following the acquisition, the director now directly owns 848,775 shares in the company, valued at approximately $2,138,913. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 57,327 shares of company stock worth $152,397. 22.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Staley Capital Advisers Inc. purchased a new stake in Anixa Biosciences during the first quarter worth approximately $31,000. Simplicity Wealth LLC acquired a new position in shares of Anixa Biosciences during the 1st quarter valued at $44,000. Virtu Financial LLC boosted its position in Anixa Biosciences by 47.2% during the 1st quarter. Virtu Financial LLC now owns 16,156 shares of the company’s stock worth $50,000 after purchasing an additional 5,183 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Anixa Biosciences by 274.6% in the 4th quarter. International Assets Investment Management LLC now owns 54,320 shares of the company’s stock valued at $2,110,000 after purchasing an additional 39,820 shares in the last quarter. Hedge funds and other institutional investors own 29.13% of the company’s stock.

About Anixa Biosciences

(Get Free Report)

Anixa Biosciences, Inc, a biotechnology company, develops therapies and vaccines focusing on critical unmet needs in oncology and infectious diseases. The company's therapeutics programs include the development of a chimeric endocrine receptor T-cell therapy, a novel form of chimeric antigen receptor T-cell (CAR-T) technology focusing on the treatment of ovarian cancer.

Further Reading

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