Anixa Biosciences (NASDAQ:ANIX) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Anixa Biosciences Inc (NASDAQ:ANIX)’s share price crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $2.96 and traded as low as $2.77. Anixa Biosciences shares last traded at $2.78, with a volume of 278,449 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wall Street Zen cut Anixa Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Weiss Ratings raised shares of Anixa Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 17th. HC Wainwright decreased their price target on shares of Anixa Biosciences from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, September 22nd. Zacks Research cut Anixa Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Finally, Citigroup restated a “buy” rating on shares of Anixa Biosciences in a report on Tuesday, October 6th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.00.

Anixa Biosciences Stock Performance

The company has a market cap of $96.64 million, a P/E ratio of -8.69 and a beta of 0.47. The business has a fifty day simple moving average of $2.90 and a 200 day simple moving average of $2.96.

Anixa Biosciences (NASDAQ:ANIX) last announced its quarterly earnings data on Wednesday, September 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). Equities research analysts expect that Anixa Biosciences Inc will post -0.31 EPS for the current year.

Insider Activity

In related news, Director Lewis Titterton, Jr. acquired 49,036 shares of Anixa Biosciences stock in a transaction that occurred on Wednesday, September 23rd. The stock was acquired at an average price of $2.69 per share, for a total transaction of $131,906.84. Following the transaction, the director directly owned 1,046,003 shares of the company’s stock, valued at $2,813,748.07. This trade represents a 4.92% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders purchased 105,536 shares of company stock valued at $291,587. Company insiders own 26.40% of the company’s stock.

Institutional Trading of Anixa Biosciences

Hedge funds have recently bought and sold shares of the company. CoreCap Advisors LLC boosted its position in shares of Anixa Biosciences by 19.2% during the third quarter. CoreCap Advisors LLC now owns 62,020 shares of the company’s stock worth $182,000 after buying an additional 10,000 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Anixa Biosciences in the 2nd quarter worth approximately $30,000. Corient Private Wealth LP boosted its holdings 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 valued at $105,000 after acquiring an additional 17,400 shares in the last quarter. AXQ Capital LP bought a new position in shares of Anixa Biosciences in the second quarter valued at approximately $41,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Anixa Biosciences in the second quarter worth approximately $38,000. 29.13% of the stock is currently owned by institutional investors.

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.