SAN JOSE, Calif.— Lewis (JO:LEWJ) H. Titterton Jr., a director at Anixa Biosciences Inc. (NASDAQ:ANIX), has increased his stake in the company with a recent purchase of common stock. According to a filing with the Securities and Exchange Commission, Titterton acquired 2,000 shares on January 22, 2025, at a price of $3.01 per share. This transaction amounts to a total investment of $6,020. The purchase comes as the stock has shown strong momentum, with a 15.31% return over the past week, according to InvestingPro data.
Following this acquisition, Titterton now holds 930,334 shares of Anixa Biosciences. The purchase reflects the director's ongoing confidence in the company, which is engaged in the development of pharmaceutical preparations. Anixa Biosciences, headquartered in San Jose, California, maintains a strong financial position with a current ratio of 8.54 and minimal debt. Analysts have set price targets ranging from $7 to $10, suggesting potential upside. For deeper insights into ANIX's financial health and additional InvestingPro Tips, subscribers can access the full analysis on the platform.
In other recent news, Anixa Biosciences has reported encouraging developments in its cancer research programs. The company has shown promising preliminary data from its breast cancer vaccine trial, with over 70% of participants showing immune responses. A Phase 2 study is planned to commence in 2025. Anixa's CAR-T therapy for ovarian cancer has also shown potential, particularly in a patient who remains well over 21 months after treatment. The therapy is being tested in further dose cohorts, with results expected to be shared in the coming year.
Anixa Biosciences ended the 2024 fiscal year with $20 million in cash and investments, providing over 2.5 years of cash runway. The company has also diversified its treasury reserve assets with a Bitcoin acquisition, aiming to create long-term value for its shareholders. Analysts from EF Hutton and H.C. Wainwright have initiated and maintained a Buy rating for Anixa Biosciences, despite H.C. Wainwright reducing the 12-month price target to $7.00.
These recent developments highlight Anixa Biosciences' commitment to developing transformative therapies for cancer and its strong position in the financial and clinical arenas.
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