Advaxis, Inc. (NASDAQ:ADXS) reached a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $5.68 and last traded at $5.65, with a volume of 1,840,732 shares changing hands. The stock had previously closed at $6.84.
The biotechnology company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.27). The firm had revenue of $3.05 million for the quarter, compared to analyst estimates of $3.43 million. Advaxis had a negative return on equity of 86.53% and a negative net margin of 655.66%.
Several research analysts have recently weighed in on ADXS shares. BidaskClub upgraded shares of Advaxis from a “hold” rating to a “buy” rating in a research note on Saturday, September 9th. ValuEngine upgraded shares of Advaxis from a “strong sell” rating to a “sell” rating in a research note on Friday, September 8th. Cantor Fitzgerald set a $19.00 price objective on shares of Advaxis and gave the stock a “buy” rating in a research note on Monday, June 12th. Finally, HC Wainwright set a $23.00 price objective on shares of Advaxis and gave the stock a “buy” rating in a research note on Wednesday, June 14th.
Institutional investors have recently added to or reduced their stakes in the company. Stevens Capital Management LP acquired a new position in shares of Advaxis during the 1st quarter worth about $105,000. Voya Investment Management LLC increased its stake in shares of Advaxis by 20.3% during the 2nd quarter. Voya Investment Management LLC now owns 17,612 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 2,975 shares during the last quarter. Cutler Capital Management LLC acquired a new position in shares of Advaxis during the 2nd quarter worth about $130,000. American International Group Inc. increased its stake in shares of Advaxis by 7.6% during the 1st quarter. American International Group Inc. now owns 20,666 shares of the biotechnology company’s stock worth $169,000 after purchasing an additional 1,459 shares during the last quarter. Finally, Northern Capital Management LLC increased its stake in shares of Advaxis by 14.6% during the 2nd quarter. Northern Capital Management LLC now owns 20,775 shares of the biotechnology company’s stock worth $135,000 after purchasing an additional 2,650 shares during the last quarter. Institutional investors own 48.78% of the company’s stock.
The stock’s market cap is $196.65 million. The firm has a 50-day moving average of $6.46 and a 200-day moving average of $7.49.
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Advaxis, Inc is a clinical-stage biotechnology company focused on the discovery, development and commercialization of Listeria monocytogenes (Lm)-Listeriolysin O (LLO) cancer immunotherapies. These immunotherapies are based on a platform technology that utilizes live attenuated Lm bioengineered to secrete antigen/adjuvant fusion proteins.
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