Anixa Biosciences (NASDAQ:ANIX) Earns Buy Rating from Analysts at Maxim Group

Equities researchers at Maxim Group began coverage on shares of Anixa Biosciences (NASDAQ:ANIX) in a report released on Friday, MarketBeat Ratings reports. The firm set a “buy” rating and a $10.00 price target on the stock. Maxim Group’s price objective points to a potential upside of 217.46% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. D. Boral Capital reiterated a “buy” rating and issued a $10.00 price target on shares of Anixa Biosciences in a research note on Wednesday, January 22nd. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Anixa Biosciences in a research report on Tuesday, February 18th.

Anixa Biosciences Trading Up 0.3 %

NASDAQ:ANIX opened at $3.15 on Friday. The stock has a 50-day moving average price of $2.88 and a 200 day moving average price of $3.01. The stock has a market capitalization of $101.42 million, a P/E ratio of -8.08 and a beta of 0.86. Anixa Biosciences has a 12-month low of $2.07 and a 12-month high of $4.20.

Anixa Biosciences (NASDAQ:ANIX) last released its quarterly earnings data on Tuesday, March 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). On average, research analysts predict that Anixa Biosciences will post -0.41 earnings per share for the current fiscal year.

Insider Activity at Anixa Biosciences

In other Anixa Biosciences news, CEO Amit Kumar purchased 43,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was purchased at an average cost of $2.23 per share, with a total value of $95,890.00. Following the purchase, the chief executive officer now owns 559,925 shares of the company’s stock, valued at approximately $1,248,632.75. The trade was a 8.32 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lewis H. Titterton, Jr. acquired 10,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was acquired at an average cost of $2.57 per share, for a total transaction of $25,700.00. Following the transaction, the director now directly owns 922,334 shares in the company, valued at $2,370,398.38. The trade was a 1.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 75,289 shares of company stock worth $177,021. Company insiders own 25.30% of the company’s stock.

Institutional Trading of Anixa Biosciences

A number of large investors have recently made changes to their positions in ANIX. Millennium Management LLC bought a new stake in Anixa Biosciences during the 4th quarter valued at about $26,000. Virtu Financial LLC purchased a new position in shares of Anixa Biosciences during the third quarter worth approximately $34,000. Renaissance Technologies LLC raised its stake in shares of Anixa Biosciences by 36.5% during the fourth quarter. Renaissance Technologies LLC now owns 14,573 shares of the company’s stock valued at $34,000 after acquiring an additional 3,900 shares in the last quarter. Prosperity Wealth Management Inc. purchased a new stake in shares of Anixa Biosciences in the fourth quarter valued at approximately $54,000. Finally, Jane Street Group LLC bought a new position in Anixa Biosciences in the fourth quarter worth approximately $67,000. 29.13% of the stock is owned by hedge funds and other institutional investors.

About Anixa Biosciences

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.