CEO, director add to insider buys this year.
CEO Amit Kumar and director Lewis Titterton have been buyers at Anixa Biosciences (ANIX). The CEO bought 10,000 shares, increasing his holdings in the company by 6 percent, paying over $41,000. The director bought 15,000 shares, increasing his holdings by 2 percent, paying over $61,000.
Insiders, including other directors at the firm, have been steady buyers at the company in the past year, with no insider sales in the past year.
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Insiders have bought near current prices, and as much as 9 percent higher than where shares trade.
Anixa Biosciences is a biotechnology company with a focus on cancer-based immuno-therapy drugs, and non-invasive blood tests for the early detection of solid tumors. Shares are down 9 percent in the past year, and is typical of early-stage pharmaceutical companies, Anixa currently operates at a loss.
Action to take: There may be an interesting opportunity provided investors can buy share near the 52-week low of $3.25. Around $4.25 right now, shares don’t seem to offer an exceptional value at this time.
However, with no debt and around $0.32 per share in cash, at a price of $3.25, investors will be paying only 10 times the cash on the balance sheet, a reasonable margin of safety in the risky world of biotech plays, where insiders have been bullish throughout the sector this year.
As Anixa is a smaller play in the biotech space, there are no options trades available for speculators.