Anixa Biosciences (NASDAQ:ANIX) Upgraded by Zacks Research to Strong-Buy Rating

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

Several other brokerages also recently commented on ANIX. Wall Street Zen upgraded Anixa Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. D. Boral Capital restated a “buy” rating and issued a $10.00 price target on shares of Anixa Biosciences in a research note on Tuesday, June 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Anixa Biosciences in a report on Wednesday, June 17th. HC Wainwright reaffirmed a “buy” rating on shares of Anixa Biosciences in a research report on Friday, June 12th. Finally, Citigroup reissued a “buy” rating on shares of Anixa Biosciences in a research report on Friday, June 12th. One 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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 Activity at Anixa Biosciences

In other news, CEO Amit Kumar bought 21,000 shares of the stock in a transaction dated Friday, June 12th. The shares were bought at an average price of $2.50 per share, for a total transaction of $52,500.00. Following the completion of the purchase, the chief executive officer owned 630,812 shares in the company, valued at approximately $1,577,030. This trade represents a 3.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 28,836 shares of company stock valued at $75,187 over the last 90 days. 26.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Anixa Biosciences

Several institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC bought a new position in Anixa Biosciences during the 2nd quarter worth $33,000. Cetera Investment Advisers bought a new stake in shares of Anixa Biosciences in the fourth quarter valued at about $35,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Anixa Biosciences by 2,000.0% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 10,500 shares of the company’s stock valued at $35,000 after acquiring an additional 10,000 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in shares of Anixa Biosciences in the second quarter valued at about $37,000. Finally, Millennium Management LLC bought a new position in Anixa Biosciences during the fourth quarter worth about $38,000. 29.13% of the stock is currently owned by institutional investors.

About Anixa Biosciences

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.