Anixa Biosciences (NASDAQ:ANIX) Releases Quarterly Earnings Results, Hits Expectations

Anixa Biosciences (NASDAQ:ANIX) issued its earnings results on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10), Zacks reports.

Anixa Biosciences Price Performance

Shares of ANIX traded up $0.03 on Tuesday, hitting $2.66. The company’s stock had a trading volume of 42,995 shares, compared to its average volume of 102,146. The company has a market capitalization of $85.64 million, a PE ratio of -6.82 and a beta of 0.86. Anixa Biosciences has a fifty-two week low of $2.07 and a fifty-two week high of $4.20. The company has a 50 day moving average price of $2.78 and a 200 day moving average price of $3.03.

Wall Street Analysts Forecast Growth

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

Insider Activity at Anixa Biosciences

In related news, Director Lewis H. Titterton, Jr. purchased 10,000 shares of Anixa Biosciences stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average price of $2.57 per share, for a total transaction of $25,700.00. Following the transaction, the director now directly owns 922,334 shares in the company, valued at approximately $2,370,398.38. This represents a 1.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Amit Kumar acquired 43,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was bought at an average price of $2.23 per share, with a total value of $95,890.00. Following the transaction, the chief executive officer now directly owns 559,925 shares in the company, valued at approximately $1,248,632.75. This represents a 8.32 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 75,289 shares of company stock valued at $177,021 in the last three months. Corporate insiders own 25.30% of the company’s stock.

Anixa Biosciences Company Profile

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.