In a recent transaction reported to the Securities and Exchange Commission, Lewis (JO:LEWJ) H. Titterton Jr., a director at Anixa Biosciences Inc. (NASDAQ:ANIX), purchased 6,000 shares of the company's common stock. The shares were acquired at a price of $2.59 each, amounting to a total investment of $15,540. Following this transaction, Titterton's direct ownership in the company increased to 928,334 shares. The timing appears favorable, as InvestingPro data shows the stock has gained over 23% in the past week. This move reflects continued confidence in Anixa Biosciences, a $90.47 million market cap company operating in the pharmaceutical preparations sector. According to InvestingPro, the company maintains a strong liquidity position with more cash than debt on its balance sheet, and a healthy current ratio of 8.54. For deeper insights into insider trading patterns and additional financial metrics, InvestingPro offers 4 more key tips about Anixa's financial health.
In other recent news, Anixa Biosciences has reported significant progress in its cancer treatment programs. The company has revealed promising preliminary data from its breast cancer vaccine trial, with over 70% of participants showing immune responses, and a Phase 2 study is planned for 2025. In addition, its CAR-T therapy for ovarian cancer, developed in collaboration with the National Cancer Institute, continues to advance, with encouraging results from a patient who remains well 21+ months after treatment.
Anixa Biosciences has also diversified its treasury reserve assets with a Bitcoin acquisition, aiming to create long-term value for its shareholders. The company's strong liquidity position, with a current ratio of 8.54, and a clean capital structure, free of warrants, preferred stock, and debt, are highlighted by InvestingPro's analysis.
Analysts from EF Hutton and H.C. Wainwright have maintained a Buy rating for Anixa Biosciences, despite H.C. Wainwright reducing the 12-month price target to $7.00. Furthermore, Anixa Biosciences has received a Japanese patent for its breast cancer vaccine technology and added Dr. Sanjay Juneja to the Cancer Business Advisory Board. These are among the recent developments at Anixa Biosciences.
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