Insider Buying: Anixa Biosciences (NASDAQ:ANIX) CFO Purchases $15,620.00 in Stock

Anixa Biosciences Inc (NASDAQ:ANIX) CFO Michael Catelani acquired 5,500 shares of Anixa Biosciences stock in a transaction that occurred on Wednesday, September 30th. The shares were bought at an average cost of $2.84 per share, with a total value of $15,620.00. Following the transaction, the chief financial officer owned 50,000 shares in the company, valued at $142,000. This represents a 12.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Anixa Biosciences Trading Up 6.5%

Shares of NASDAQ:ANIX opened at $2.95 on Friday. The stock has a fifty day simple moving average of $3.17 and a two-hundred day simple moving average of $2.97. Anixa Biosciences Inc has a 12-month low of $2.32 and a 12-month high of $5.46. The stock has a market capitalization of $102.54 million, a price-to-earnings ratio of -9.22 and a beta of 0.47.

Anixa Biosciences (NASDAQ:ANIX) last released its earnings results on Wednesday, September 9th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). As a group, equities research analysts predict that Anixa Biosciences Inc will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ANIX. Sanctuary Advisors LLC bought a new stake in shares of Anixa Biosciences during the 2nd quarter valued at about $29,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Anixa Biosciences in the second quarter worth approximately $29,000. Integrated Wealth Concepts LLC purchased a new position in shares of Anixa Biosciences in the second quarter worth approximately $30,000. Simplicity Wealth LLC bought a new stake in Anixa Biosciences during the second quarter valued at approximately $34,000. Finally, NewEdge Wealth LLC purchased a new stake in Anixa Biosciences during the second quarter valued at approximately $35,000. 29.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ANIX shares. Weiss Ratings upgraded shares of Anixa Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 17th. Citigroup reiterated a “buy” rating on shares of Anixa Biosciences in a research note on Friday, June 12th. D. Boral Capital reissued a “buy” rating and issued a $10.00 target price on shares of Anixa Biosciences in a report on Tuesday, June 30th. HC Wainwright decreased their price target on Anixa Biosciences from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. Finally, Wall Street Zen raised Anixa Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Three 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.00.

Anixa Biosciences Company Profile

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.