Anixa Biosciences (NASDAQ:ANIX) Stock: Insider Amit Kumar Purchases 8,000 Shares

Anixa Biosciences Inc (NASDAQ:ANIX) CEO Amit Kumar purchased 8,000 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The shares were purchased at an average cost of $2.72 per share, for a total transaction of $21,760.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Amit Kumar also recently made the following trade(s):

• On Thursday, September 24th, Amit Kumar bought 7,000 shares of Anixa Biosciences stock. The stock was acquired at an average cost of $2.78 per share, with a total value of $19,460.00.
• On Thursday, September 10th, Amit Kumar bought 3,000 shares of Anixa Biosciences stock. The shares were acquired at an average cost of $2.75 per share, with a total value of $8,250.00.
• On Thursday, September 10th, Amit Kumar acquired 5,000 shares of Anixa Biosciences stock. The shares were bought at an average price of $2.76 per share, with a total value of $13,800.00.
• On Friday, July 31st, Amit Kumar acquired 5,000 shares of Anixa Biosciences stock. The shares were purchased at an average cost of $3.47 per share, with a total value of $17,350.00.
• On Friday, July 24th, Amit Kumar bought 3,000 shares of Anixa Biosciences stock. The shares were acquired at an average price of $3.73 per share, with a total value of $11,190.00.
• On Monday, July 27th, Amit Kumar purchased 3,188 shares of Anixa Biosciences stock. The shares were acquired at an average price of $3.37 per share, for a total transaction of $10,743.56.
• On Monday, July 27th, Amit Kumar purchased 5,000 shares of Anixa Biosciences stock. The shares were acquired at an average price of $3.44 per share, for a total transaction of $17,200.00.

Anixa Biosciences Trading Up 7.6%

ANIX opened at $2.99 on Friday. The company has a 50 day moving average of $3.00 and a 200 day moving average of $2.98. The company has a market cap of $103.93 million, a PE ratio of -9.34 and a beta of 0.47. Anixa Biosciences Inc has a 12 month low of $2.32 and a 12 month high of $5.46.

Anixa Biosciences (NASDAQ:ANIX) last released its quarterly earnings data on Wednesday, September 9th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). Research analysts forecast that Anixa Biosciences Inc will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Anixa Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of ANIX. CoreCap Advisors LLC increased its holdings in shares of Anixa Biosciences by 19.2% in the third quarter. CoreCap Advisors LLC now owns 62,020 shares of the company’s stock worth $182,000 after purchasing an additional 10,000 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Anixa Biosciences in the second quarter worth $30,000. Corient Private Wealth LP raised its position in shares of Anixa Biosciences by 87.0% in the second quarter. Corient Private Wealth LP now owns 37,400 shares of the company’s stock worth $105,000 after buying an additional 17,400 shares in the last quarter. AXQ Capital LP bought a new stake in Anixa Biosciences during the second quarter valued at $41,000. Finally, Canada Pension Plan Investment Board bought a new stake in Anixa Biosciences during the second quarter valued at $38,000. 29.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HC Wainwright decreased 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. D. Boral Capital restated a “buy” rating and issued a $10.00 target price on shares of Anixa Biosciences in a research note on Tuesday, June 30th. Citigroup restated a “buy” rating on shares of Anixa Biosciences in a research note on Tuesday, October 6th. Weiss Ratings raised Anixa Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 17th. Finally, Zacks Research cut Anixa Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.00.

About Anixa Biosciences

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.