Anixa Biosciences (NASDAQ:ANIX) Announces Quarterly Earnings Results, Hits Estimates

Anixa Biosciences (NASDAQ:ANIX) released its quarterly earnings results on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10), Zacks reports.

Anixa Biosciences Stock Performance

ANIX stock traded up $0.03 during midday trading on Tuesday, reaching $2.66. 42,995 shares of the company traded hands, compared to its average volume of 102,146. The firm has a market capitalization of $85.64 million, a price-to-earnings ratio of -6.82 and a beta of 0.86. Anixa Biosciences has a 52-week low of $2.07 and a 52-week high of $4.20. The business has a 50 day moving average of $2.78 and a 200-day moving average of $3.03.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Anixa Biosciences

In related news, CEO Amit Kumar bought 43,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were acquired at an average cost 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. The trade was a 8.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lewis H. Titterton, Jr. bought 10,000 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $2.57 per share, with a total value of $25,700.00. Following the completion of the transaction, the director now owns 922,334 shares in the company, valued at $2,370,398.38. This represents a 1.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 75,289 shares of company stock worth $177,021. 25.30% of the stock is currently owned by company insiders.

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.