Insider Buying: Anixa Biosciences (NASDAQ:ANIX) CEO Buys $15,850.00 in Stock

Anixa Biosciences Inc (NASDAQ:ANIX) CEO Amit Kumar acquired 5,000 shares of the company’s stock in a transaction on Friday, October 30th. The stock was acquired at an average cost of $3.17 per share, for a total transaction of $15,850.00. Following the completion of the acquisition, the chief executive officer owned 685,000 shares of the company’s stock, valued at $2,171,450. This trade represents a 0.74% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Amit Kumar also recently made the following trade(s):

• On Thursday, October 22nd, Amit Kumar purchased 8,000 shares of Anixa Biosciences stock. The stock was bought at an average cost of $2.72 per share, for a total transaction of $21,760.00.
• On Thursday, September 24th, Amit Kumar acquired 7,000 shares of Anixa Biosciences stock. The shares were bought at an average cost of $2.78 per share, for a total transaction of $19,460.00.
• On Thursday, September 10th, Amit Kumar bought 3,000 shares of Anixa Biosciences stock. The shares were bought at an average cost of $2.75 per share, with a total value of $8,250.00.
• On Thursday, September 10th, Amit Kumar acquired 5,000 shares of Anixa Biosciences stock. The stock was purchased at an average price of $2.76 per share, for a total transaction of $13,800.00.

Anixa Biosciences Price Performance

NASDAQ ANIX opened at $3.28 on Thursday. The stock’s 50 day simple moving average is $2.94 and its 200-day simple moving average is $2.97. The company has a market cap of $114.01 million, a PE ratio of -10.25 and a beta of 0.47. Anixa Biosciences Inc has a 1-year low of $2.32 and a 1-year high of $5.46.

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

Institutional Investors Weigh In On Anixa Biosciences

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Anixa Biosciences in the 2nd quarter valued at about $559,000. GSA Capital Partners LLP acquired a new stake in Anixa Biosciences in the second quarter valued at approximately $329,000. CoreCap Advisors LLC lifted its stake in Anixa Biosciences by 19.2% in the third quarter. CoreCap Advisors LLC now owns 62,020 shares of the company’s stock worth $182,000 after acquiring an additional 10,000 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Anixa Biosciences by 13.6% during the 1st quarter. Renaissance Technologies LLC now owns 61,173 shares of the company’s stock worth $158,000 after purchasing an additional 7,300 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Anixa Biosciences during the second quarter worth $133,000. 29.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on ANIX. Zacks Research lowered Anixa Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. Citigroup reaffirmed a “buy” rating on shares of Anixa Biosciences in a research report on Tuesday, October 6th. Weiss Ratings upgraded shares of Anixa Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 17th. Wall Street Zen downgraded shares of Anixa Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Finally, HC Wainwright cut their target price on Anixa Biosciences from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, September 22nd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Anixa Biosciences presently has an average rating of “Hold” and a consensus target price of $8.00.

Anixa Biosciences Company Profile

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.