ITUS (NYSE:ANIX) Trading 19.9% Higher Following Insider Buying Activity
ITUS Corporation (NYSE:ANIX) shares traded up 19.9% during mid-day trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $3.50 and last traded at $3.32, 286,100 shares traded hands during mid-day trading. An increase of 283% from the average session volume of 74,677 shares. The stock had previously closed at $2.77.
Specifically, CEO Amit Kumar purchased 20,000 shares of the stock in a transaction on Tuesday, January 14th. The stock was bought at an average price of $2.99 per share, with a total value of $59,800.00. Following the transaction, the chief executive officer now owns 194,000 shares in the company, valued at approximately $580,060. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of equities analysts have weighed in on the company. B. Riley reduced their price objective on ITUS from $11.25 to $8.00 and set a “buy” rating for the company in a research note on Monday, December 30th. Zacks Investment Research upgraded ITUS from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research note on Wednesday, January 1st.
About ITUS (NYSE:ANIX)
Anixa Biosciences, Inc engages in the development, acquisition and licensing emerging technology in the field of biotechnology. It focuses on platform called Cchek, a series of inexpensive non-invasive blood tests for the early detection of cancer, which is based on the body’s immunological response to the presence of a malignancy.
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