Anixa Biosciences (NASDAQ:ANIX) Upgraded at Zacks Research

Zacks Research upgraded shares of Anixa Biosciences (NASDAQ:ANIX) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other analysts have also recently issued reports on the company. D. Boral Capital reissued a “buy” rating and set a $10.00 price objective on shares of Anixa Biosciences in a research report on Tuesday, June 30th. HC Wainwright reiterated a “buy” rating on shares of Anixa Biosciences in a research note on Friday, June 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Anixa Biosciences in a research report on Wednesday, June 17th. Wall Street Zen raised Anixa Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Citigroup reiterated a “buy” rating on shares of Anixa Biosciences in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Anixa Biosciences Stock Performance

NASDAQ ANIX opened at $3.75 on Tuesday. Anixa Biosciences has a twelve month low of $2.32 and a twelve month high of $5.46. The stock has a market cap of $127.58 million, a price-to-earnings ratio of -12.10 and a beta of 0.59. The firm’s 50 day moving average price is $2.88 and its two-hundred day moving average price is $2.91.

Anixa Biosciences (NASDAQ:ANIX) last released its earnings results on Wednesday, June 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. On average, research analysts forecast that Anixa Biosciences will post -0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Amit Kumar acquired 21,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $2.50 per share, with a total value of $52,500.00. Following the completion of the acquisition, the chief executive officer owned 630,812 shares of the company’s stock, valued at $1,577,030. This trade represents a 3.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased 28,836 shares of company stock worth $75,187 over the last 90 days. 26.40% of the stock is currently owned by insiders.

Institutional Trading of Anixa Biosciences

Several institutional investors have recently bought and sold shares of ANIX. NewEdge Advisors LLC acquired a new position in Anixa Biosciences during the second quarter worth $33,000. Cetera Investment Advisers acquired a new stake in shares of Anixa Biosciences in the 4th quarter valued at $35,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Anixa Biosciences by 2,000.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 10,500 shares of the company’s stock valued at $35,000 after purchasing an additional 10,000 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in shares of Anixa Biosciences in the 2nd quarter worth about $37,000. Finally, Millennium Management LLC acquired a new stake in shares of Anixa Biosciences during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 29.13% of the company’s stock.

Anixa Biosciences Company Profile

Anixa Biosciences is a clinical-stage immuno-oncology and infectious disease company developing novel cell-based immunotherapies and vaccine platforms. Through its Anixa Therapeutics division, the company is advancing antibody and T-cell modalities, including an ovarian cancer immunotherapy candidate and a COVID-19 vaccine leveraging a proprietary virus-like particle (VLP) technology. Its research pipeline emphasizes modular vaccine design and personalized cancer cell therapy aimed at inducing durable immune responses against solid tumors.

In parallel, Anixa Diagnostics is developing the ADAPT diagnostic platform, a high-throughput proteomics approach using engineered peptides derived from spider venom.