Anixa Biosciences (NASDAQ:ANIX) Stock: Insider Amit Kumar Buys 5,000 Shares

Anixa Biosciences Inc (NASDAQ:ANIX) CEO Amit Kumar acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The stock was bought at an average cost of $3.17 per share, with a total value of $15,850.00. Following the completion of the transaction, the chief executive officer directly owned 685,000 shares in the company, valued at $2,171,450. The trade was a 0.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, October 22nd, Amit Kumar bought 8,000 shares of Anixa Biosciences stock. The stock was bought at an average price of $2.72 per share, with a total value of $21,760.00.
• On Thursday, September 24th, Amit Kumar bought 7,000 shares of Anixa Biosciences stock. The stock was bought at an average price 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 bought at an average cost of $2.75 per share, for a total transaction of $8,250.00.
• On Thursday, September 10th, Amit Kumar bought 5,000 shares of Anixa Biosciences stock. The shares were bought at an average cost of $2.76 per share, for a total transaction of $13,800.00.

Anixa Biosciences Trading Up 2.3%

Shares of Anixa Biosciences stock opened at $3.06 on Wednesday. Anixa Biosciences Inc has a 12-month low of $2.32 and a 12-month high of $5.46. The firm has a market capitalization of $106.37 million, a price-to-earnings ratio of -9.56 and a beta of 0.47. The firm’s 50 day simple moving average is $2.95 and its two-hundred day simple moving average is $2.97.

Anixa Biosciences (NASDAQ:ANIX) last posted its quarterly earnings results on Wednesday, September 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). On average, sell-side analysts predict that Anixa Biosciences Inc will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ANIX. Citigroup restated a “buy” rating on shares of Anixa Biosciences in a research note on Tuesday, October 6th. Wall Street Zen downgraded Anixa Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday. HC Wainwright dropped their price target 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 lowered Anixa Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. Finally, Weiss Ratings upgraded Anixa Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 17th. Three 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. CoreCap Advisors LLC boosted its holdings in Anixa Biosciences by 19.2% in the third quarter. CoreCap Advisors LLC now owns 62,020 shares of the company’s stock valued at $182,000 after purchasing an additional 10,000 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Anixa Biosciences during the 2nd quarter worth about $30,000. Corient Private Wealth LP raised its stake in shares of Anixa Biosciences by 87.0% during the 2nd quarter. Corient Private Wealth LP now owns 37,400 shares of the company’s stock valued at $105,000 after buying an additional 17,400 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Anixa Biosciences during the 2nd quarter valued at about $41,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Anixa Biosciences in the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 29.13% of the company’s stock.

About Anixa Biosciences

Anixa Biosciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies and vaccines for cancer and other serious diseases. The company’s programs are designed to use the immune system to identify and attack disease-associated targets.

Anixa’s oncology pipeline has included a chimeric antigen receptor T-cell (CAR-T) therapy targeting the follicle-stimulating hormone receptor, which is being investigated as a potential treatment for ovarian cancer and other cancers.