Anixa Biosciences (NASDAQ:ANIX) Stock Rating Upgraded by Zacks Research

Anixa Biosciences (NASDAQ:ANIX) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

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

Anixa Biosciences Price Performance

Anixa Biosciences stock opened at $3.52 on Tuesday. The company’s 50-day moving average is $2.86 and its 200-day moving average is $2.91. The firm has a market capitalization of $119.75 million, a PE ratio of -11.35 and a beta of 0.59. Anixa Biosciences has a fifty-two week low of $2.32 and a fifty-two week high of $5.46.

Anixa Biosciences (NASDAQ:ANIX) last issued its earnings results on Wednesday, June 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.03. As a group, analysts expect that Anixa Biosciences will post -0.31 EPS for the current year.

Insider Buying and Selling

In related news, CEO Amit Kumar purchased 21,000 shares of Anixa Biosciences stock in a transaction on Friday, June 12th. The shares were purchased at an average price of $2.50 per share, for a total transaction of $52,500.00. Following the transaction, the chief executive officer owned 630,812 shares of the company’s stock, valued at approximately $1,577,030. This represents a 3.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders bought 28,836 shares of company stock worth $75,187. 26.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Anixa Biosciences

A number of hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC bought a new stake in Anixa Biosciences in the second quarter valued at approximately $33,000. Cetera Investment Advisers bought a new position in Anixa Biosciences during the 4th quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. raised its holdings in Anixa Biosciences by 2,000.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 10,500 shares of the company’s stock worth $35,000 after purchasing an additional 10,000 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in shares of Anixa Biosciences in the 2nd quarter worth approximately $37,000. Finally, Millennium Management LLC acquired a new position in shares of Anixa Biosciences in the 4th quarter worth approximately $38,000. 29.13% of the stock is currently owned by institutional investors.

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.