Anixa Biosciences (NASDAQ:ANIX) Lowered to “Hold” Rating by Zacks Research

Anixa Biosciences (NASDAQ:ANIX) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also recently issued reports on ANIX. D. Boral Capital reiterated a “buy” rating and set a $10.00 target price on shares of Anixa Biosciences in a research report on Tuesday, June 30th. Weiss Ratings raised Anixa Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. HC Wainwright restated a “buy” rating on shares of Anixa Biosciences in a research note on Friday, June 12th. Citigroup reaffirmed a “buy” rating on shares of Anixa Biosciences in a report on Friday, June 12th. Finally, Wall Street Zen upgraded shares of 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Anixa Biosciences presently has an average rating of “Hold” and a consensus price target of $8.50.

Anixa Biosciences Stock Performance

Shares of ANIX stock opened at $3.59 on Wednesday. The stock has a fifty day simple moving average of $3.19 and a two-hundred day simple moving average of $2.95. The firm has a market capitalization of $122.14 million, a PE ratio of -11.58 and a beta of 0.55. Anixa Biosciences has a 52-week low of $2.32 and a 52-week high of $5.46.

Anixa Biosciences (NASDAQ:ANIX) last announced its quarterly earnings data on Wednesday, June 10th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03. On average, sell-side analysts forecast that Anixa Biosciences will post -0.31 EPS for the current fiscal year.

Insider Transactions at Anixa Biosciences

In other news, CEO Amit Kumar acquired 21,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $2.50 per share, with a total value of $52,500.00. Following the acquisition, the chief executive officer directly owned 630,812 shares of the company’s stock, valued at approximately $1,577,030. The trade was a 3.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders purchased 50,024 shares of company stock valued at $148,971. Insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Anixa Biosciences

Several large investors have recently bought and sold shares of ANIX. Vanguard Group Inc. increased its position in Anixa Biosciences by 2.1% in the third quarter. Vanguard Group Inc. now owns 1,422,342 shares of the company’s stock worth $4,694,000 after purchasing an additional 29,436 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Anixa Biosciences by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 350,915 shares of the company’s stock worth $1,095,000 after buying an additional 7,271 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Anixa Biosciences by 1.7% in the 3rd quarter. Bank of America Corp DE now owns 213,955 shares of the company’s stock worth $706,000 after buying an additional 3,645 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Anixa Biosciences in the 2nd quarter worth about $559,000. Finally, State Street Corp raised its position in shares of Anixa Biosciences by 32.0% during the 4th quarter. State Street Corp now owns 159,040 shares of the company’s stock valued at $496,000 after buying an additional 38,540 shares in the last quarter. Institutional investors own 29.13% of the company’s stock.

About Anixa Biosciences

Anixa Biosciences is a clinical-stage immuno-oncology and infectious disease company developing novel cell-based immunotherapies and vaccine platforms. Through its Anixa Therapeutics division, the company is advancing antibody and T-cell modalities, including an ovarian cancer immunotherapy candidate and a COVID-19 vaccine leveraging a proprietary virus-like particle (VLP) technology. Its research pipeline emphasizes modular vaccine design and personalized cancer cell therapy aimed at inducing durable immune responses against solid tumors.

In parallel, Anixa Diagnostics is developing the ADAPT diagnostic platform, a high-throughput proteomics approach using engineered peptides derived from spider venom.