Maxim Group Initiates Coverage on Anixa Biosciences (NASDAQ:ANIX)

Research analysts at Maxim Group began coverage on shares of Anixa Biosciences (NASDAQ:ANIX) in a research note issued to investors on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. Maxim Group’s price target indicates a potential upside of 217.46% from the company’s current price.

A number of other equities analysts have also weighed in on ANIX. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Anixa Biosciences in a report on Tuesday, February 18th. D. Boral Capital restated a “buy” rating and set a $10.00 price target on shares of Anixa Biosciences in a research report on Wednesday, January 22nd.

Anixa Biosciences Stock Up 0.3 %

ANIX opened at $3.15 on Friday. Anixa Biosciences has a twelve month low of $2.07 and a twelve month high of $4.20. The stock has a market cap of $101.42 million, a PE ratio of -8.08 and a beta of 0.86. The company has a fifty day moving average of $2.88 and a 200-day moving average of $3.01.

Anixa Biosciences (NASDAQ:ANIX) last released its quarterly earnings results on Tuesday, March 11th. The company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). Sell-side analysts anticipate that Anixa Biosciences will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling at Anixa Biosciences

In other Anixa Biosciences news, CEO Amit Kumar acquired 43,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were purchased at an average price of $2.23 per share, for a total transaction of $95,890.00. Following the purchase, the chief executive officer now directly owns 559,925 shares of the company’s stock, valued at approximately $1,248,632.75. This trade represents a 8.32 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lewis H. Titterton, Jr. bought 10,000 shares of Anixa Biosciences stock in a transaction on Friday, January 17th. The shares were acquired at an average cost of $2.57 per share, with a total value of $25,700.00. Following the completion of the acquisition, the director now owns 922,334 shares of the company’s stock, valued at $2,370,398.38. The trade was a 1.10 % increase in their position. 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 Investors Weigh In On Anixa Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its position in 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 purchasing an additional 3,900 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Anixa Biosciences during the 3rd quarter valued at about $34,000. Millennium Management LLC bought a new position in shares of Anixa Biosciences during the 4th quarter valued at approximately $26,000. LPL Financial LLC increased its holdings in Anixa Biosciences by 37.2% in the 4th quarter. LPL Financial LLC now owns 42,937 shares of the company’s stock worth $100,000 after acquiring an additional 11,633 shares in the last quarter. Finally, Westside Investment Management Inc. raised its stake in Anixa Biosciences by 151.8% during the 3rd quarter. Westside Investment Management Inc. now owns 35,000 shares of the company’s stock worth $110,000 after acquiring an additional 21,100 shares during the period. 29.13% of the stock is currently 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.