Anixa Biosciences (NASDAQ:ANIX) Stock Rating Lowered by Zacks Research

Anixa Biosciences (NASDAQ:ANIX) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

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

Anixa Biosciences Trading Down 3.2%

Shares of Anixa Biosciences stock opened at $3.59 on Wednesday. The company has a fifty day simple moving average of $3.19 and a 200-day simple moving average of $2.95. Anixa Biosciences has a 12-month low of $2.32 and a 12-month high of $5.46. The stock has a market cap of $122.14 million, a price-to-earnings ratio of -11.58 and a beta of 0.55.

Anixa Biosciences (NASDAQ:ANIX) last announced its quarterly earnings results on Wednesday, June 10th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. On average, analysts forecast that Anixa Biosciences will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Anixa Biosciences news, CEO Amit Kumar bought 21,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were acquired at an average cost of $2.50 per share, for a total transaction of $52,500.00. Following the purchase, the chief executive officer owned 630,812 shares in the company, valued at approximately $1,577,030. This trade represents a 3.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have purchased 50,024 shares of company stock valued at $148,971. 26.40% of the stock is owned by insiders.

Institutional Trading of Anixa Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the company. Corient Private Wealth LP bought a new position in shares of Anixa Biosciences during the 2nd quarter valued at approximately $105,000. Canada Pension Plan Investment Board purchased a new position in shares of Anixa Biosciences in the 2nd quarter valued at approximately $38,000. Sanctuary Advisors LLC acquired a new position in shares of Anixa Biosciences in the second quarter valued at about $29,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Anixa Biosciences in the second quarter valued at $29,000. Finally, NewEdge Wealth LLC purchased a new position in shares of Anixa Biosciences during the 2nd quarter valued at approximately $35,000. 29.13% of the stock is currently owned by institutional investors.

Anixa Biosciences Company Profile

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.