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

Anixa Biosciences (NASDAQ:ANIXGet Free Report) had its price objective cut by stock analysts at HC Wainwright from $12.00 to $7.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 174.51% from the stock’s current price.

Anixa Biosciences Trading Up 8.1 %

Shares of Anixa Biosciences stock opened at $2.55 on Monday. The stock has a 50-day moving average price of $2.92 and a 200 day moving average price of $3.55. The company has a market cap of $81.63 million, a P/E ratio of -6.89 and a beta of 0.84. Anixa Biosciences has a 1 year low of $2.21 and a 1 year high of $5.13.

Anixa Biosciences (NASDAQ:ANIXGet Free Report) last announced its quarterly earnings data on Tuesday, June 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. On average, equities analysts forecast that Anixa Biosciences will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Amit Kumar bought 25,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were bought at an average cost of $2.41 per share, with a total value of $60,250.00. Following the transaction, the chief executive officer now directly owns 516,925 shares in the company, valued at approximately $1,245,789.25. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Lewis H. Titterton, Jr. acquired 15,009 shares of the stock in a transaction dated Tuesday, April 9th. The shares were acquired at an average price of $3.28 per share, with a total value of $49,229.52. Following the acquisition, the director now owns 838,037 shares in the company, valued at approximately $2,748,761.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amit Kumar acquired 25,000 shares of the 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 owns 516,925 shares in the company, valued at approximately $1,245,789.25. The disclosure for this purchase can be found here. Insiders have bought a total of 86,259 shares of company stock valued at $257,380 in the last three months. Insiders own 22.60% of the company’s stock.

Institutional Trading of Anixa Biosciences

Several hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC boosted its stake in Anixa Biosciences by 47.2% during the 1st quarter. Virtu Financial LLC now owns 16,156 shares of the company’s stock valued at $50,000 after purchasing an additional 5,183 shares during the period. Staley Capital Advisers Inc. bought a new stake in shares of Anixa Biosciences in the 1st quarter worth approximately $31,000. Simplicity Wealth LLC bought a new stake in shares of Anixa Biosciences in the 1st quarter worth approximately $44,000. Finally, International Assets Investment Management LLC lifted its position in shares of Anixa Biosciences by 274.6% in the 4th quarter. International Assets Investment Management LLC now owns 54,320 shares of the company’s stock worth $2,110,000 after acquiring an additional 39,820 shares during the period. 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

Receive News & Ratings for Anixa Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anixa Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.