Anixa Biosciences (NASDAQ:ANIX) Downgraded by Zacks Research to “Hold”

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

Several other analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Anixa Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. D. Boral Capital reiterated a “buy” rating and set a $10.00 target price on shares of Anixa Biosciences in a report on Tuesday, June 30th. HC Wainwright restated a “buy” rating on shares of Anixa Biosciences in a research note on Friday, June 12th. Citigroup reiterated a “buy” rating on shares of Anixa Biosciences in a research note on Friday, June 12th. Finally, Weiss Ratings upgraded Anixa Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.50.

Anixa Biosciences Stock Performance

Anixa Biosciences stock opened at $3.59 on Wednesday. The firm has a 50 day moving average price of $3.19 and a 200 day moving average price of $2.95. Anixa Biosciences has a fifty-two week low of $2.32 and a fifty-two week high of $5.46. The company has a market capitalization of $122.14 million, a PE ratio of -11.58 and a beta of 0.55.

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

Insider Transactions at Anixa Biosciences

In related news, CEO Amit Kumar acquired 21,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was 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 directly owned 630,812 shares of the company’s stock, valued at approximately $1,577,030. The trade was a 3.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 50,024 shares of company stock valued at $148,971 in the last three months. Corporate insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ANIX. Marshall Wace LLP acquired a new stake in shares of Anixa Biosciences in the second quarter valued at approximately $39,000. NewEdge Advisors LLC acquired a new stake in Anixa Biosciences during the 2nd quarter worth $33,000. Jane Street Group LLC increased its stake in Anixa Biosciences by 37.2% in the second quarter. Jane Street Group LLC now owns 41,800 shares of the company’s stock valued at $138,000 after purchasing an additional 11,340 shares during the period. Benjamin Edwards Inc. purchased a new stake in shares of Anixa Biosciences in the second quarter valued at about $37,000. Finally, Vanguard Group Inc. boosted its stake in shares of Anixa Biosciences by 2.1% during the third quarter. Vanguard Group Inc. now owns 1,422,342 shares of the company’s stock worth $4,694,000 after buying an additional 29,436 shares during the period. Institutional investors and hedge funds own 29.13% of the company’s stock.

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.