Insider Buying: Anixa Biosciences (NASDAQ:ANIX) CEO Purchases 5,000 Shares of Stock

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

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

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

Anixa Biosciences Stock Down 2.2%

NASDAQ ANIX traded down $0.07 on Monday, reaching $3.05. The company had a trading volume of 51,734 shares, compared to its average volume of 208,651. The stock has a market capitalization of $106.02 million, a PE ratio of -9.53 and a beta of 0.47. Anixa Biosciences Inc has a 12 month low of $2.32 and a 12 month high of $5.46. The firm’s 50 day moving average price is $2.97 and its 200 day moving average price is $2.97.

Anixa Biosciences (NASDAQ:ANIX) last released its quarterly earnings data on Wednesday, September 9th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). On average, research analysts expect that Anixa Biosciences Inc will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

ANIX has been the subject of a number of research reports. Weiss Ratings raised Anixa Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 17th. HC Wainwright decreased their price objective on Anixa Biosciences from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. Citigroup reissued a “buy” rating on shares of Anixa Biosciences in a report on Tuesday, October 6th. Wall Street Zen cut shares of Anixa Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research lowered shares of Anixa Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.00.

About Anixa Biosciences

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.