Anixa Biosciences (NASDAQ:ANIX) Price Target Cut to $6.00 by Analysts at HC Wainwright

Anixa Biosciences (NASDAQ:ANIX) had its target price dropped by stock analysts at HC Wainwright from $7.00 to $6.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 121.40% from the stock’s current price.

Other analysts have also issued research reports about the stock. Citigroup reiterated a “buy” rating on shares of Anixa Biosciences in a research note on Friday, June 12th. D. Boral Capital restated a “buy” rating and issued a $10.00 price target on shares of Anixa Biosciences in a report on Tuesday, June 30th. Wall Street Zen upgraded shares of Anixa Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings raised shares of Anixa Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Finally, Zacks Research downgraded Anixa Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Anixa Biosciences currently has a consensus rating of “Hold” and an average target price of $8.00.

Anixa Biosciences Price Performance

Shares of Anixa Biosciences stock traded up $0.01 on Tuesday, hitting $2.71. 183,671 shares of the company’s stock traded hands, compared to its average volume of 201,991. The company has a fifty day moving average of $3.29 and a two-hundred day moving average of $2.97. Anixa Biosciences has a one year low of $2.32 and a one year high of $5.46. The company has a market capitalization of $94.20 million, a price-to-earnings ratio of -8.47 and a beta of 0.51.

Anixa Biosciences (NASDAQ:ANIX) last issued its earnings results on Wednesday, September 9th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). Equities research analysts anticipate that Anixa Biosciences will post -0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Anixa Biosciences news, Director Lewis Titterton, Jr. acquired 10,000 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were purchased at an average cost of $2.73 per share, with a total value of $27,300.00. Following the completion of the purchase, the director owned 996,967 shares of the company’s stock, valued at approximately $2,721,719.91. This represents a 1.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 44,188 shares of company stock worth $138,334 in the last 90 days. Corporate insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Anixa Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in Anixa Biosciences in the 2nd quarter valued at about $29,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Anixa Biosciences in the second quarter worth approximately $29,000. Integrated Wealth Concepts LLC bought a new position in shares of Anixa Biosciences in the second quarter valued at approximately $30,000. Simplicity Wealth LLC bought a new stake in shares of Anixa Biosciences in the 2nd quarter worth $34,000. Finally, NewEdge Wealth LLC purchased a new stake in shares of Anixa Biosciences in the second quarter valued at about $35,000. Institutional investors and hedge funds own 29.13% of the company’s stock.

About Anixa Biosciences

Anixa Biosciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies and vaccines for cancer and infectious diseases. The company’s research programs are designed to use the immune system to prevent or treat serious illnesses.

Anixa’s cancer programs include vaccine approaches for ovarian cancer and triple-negative breast cancer, developed in collaboration with researchers at Cleveland Clinic. The company is also developing chimeric antigen receptor T-cell, or CAR-T, therapies intended to target cancer cells, including programs focused on ovarian cancer.

In addition to oncology, Anixa has pursued vaccine and therapeutic technologies for infectious diseases.