Amit Kumar Acquires 10,000 Shares of Anixa Biosciences, Inc. (NASDAQ:ANIX) Stock

Anixa Biosciences, Inc. (NASDAQ:ANIX) CEO Amit Kumar purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were purchased at an average cost of $2.85 per share, for a total transaction of $28,500.00. Following the completion of the purchase, the chief executive officer now directly owns 569,925 shares in the company, valued at $1,624,286.25. The trade was a 1.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Anixa Biosciences Trading Down 2.8%

Shares of NASDAQ:ANIX opened at $2.76 on Friday. The company has a fifty day simple moving average of $2.66 and a 200 day simple moving average of $2.79. The firm has a market cap of $88.90 million, a PE ratio of -7.08 and a beta of 0.34. Anixa Biosciences, Inc. has a 12-month low of $2.07 and a 12-month high of $4.20.

Anixa Biosciences (NASDAQ:ANIX) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. As a group, equities research analysts forecast that Anixa Biosciences, Inc. will post -0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ANIX has been the topic of several analyst reports. Maxim Group initiated coverage on shares of Anixa Biosciences in a research note on Friday, March 21st. They set a “buy” rating and a $10.00 price target on the stock. D. Boral Capital restated a “buy” rating and issued a $10.00 target price on shares of Anixa Biosciences in a report on Thursday, May 29th. Wall Street Zen upgraded shares of Anixa Biosciences from a “sell” rating to a “hold” rating in a report on Friday. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Anixa Biosciences in a report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $9.00.

Hedge Funds Weigh In On Anixa Biosciences

Several institutional investors have recently modified their holdings of the company. Millennium Management LLC acquired a new stake in Anixa Biosciences in the fourth quarter worth about $26,000. Private Advisor Group LLC acquired a new stake in Anixa Biosciences in the first quarter worth about $35,000. Renaissance Technologies LLC lifted its holdings in Anixa Biosciences by 36.5% in the fourth quarter. Renaissance Technologies LLC now owns 14,573 shares of the company’s stock worth $34,000 after purchasing an additional 3,900 shares during the period. Prosperity Wealth Management Inc. acquired a new stake in Anixa Biosciences in the fourth quarter worth about $54,000. Finally, Jane Street Group LLC acquired a new stake in Anixa Biosciences in the fourth quarter worth about $67,000. Institutional investors own 29.13% of the company’s stock.

Anixa Biosciences Company Profile

Anixa Biosciences, Inc, a biotechnology company, develops therapies and vaccines focusing on critical unmet needs in oncology and infectious diseases. The company's therapeutics programs include the development of a chimeric endocrine receptor T-cell therapy, a novel form of chimeric antigen receptor T-cell (CAR-T) technology focusing on the treatment of ovarian cancer.