Advaxis, Inc. (ADXS) Shares Gap Down to $5.48

Advaxis, Inc. (NASDAQ:ADXS) shares gapped down prior to trading on Wednesday . The stock had previously closed at $4.71, but opened at $5.48. Advaxis shares last traded at $5.02, with a volume of 1,393,123 shares.

ADXS has been the subject of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $19.00 target price on shares of Advaxis in a research report on Wednesday, May 31st. HC Wainwright set a $23.00 price objective on Advaxis and gave the company a “buy” rating in a research report on Wednesday, June 14th. ValuEngine lowered Advaxis from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Finally, BidaskClub upgraded Advaxis from a “sell” rating to a “hold” rating in a research report on Friday, August 25th.

The stock’s 50-day moving average price is $6.35 and its 200-day moving average price is $7.45. The company’s market capitalization is $199.88 million.

Advaxis (NASDAQ:ADXS) last issued its earnings results on Monday, September 11th. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.27). Advaxis had a negative return on equity of 93.54% and a negative net margin of 655.66%. The company had revenue of $3.05 million during the quarter, compared to analyst estimates of $3.43 million. Equities research analysts forecast that Advaxis, Inc. will post ($2.20) earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in shares of Advaxis by 0.8% in the 1st quarter. Wells Fargo & Company MN now owns 43,669 shares of the biotechnology company’s stock worth $356,000 after buying an additional 360 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Advaxis by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 129,321 shares of the biotechnology company’s stock worth $840,000 after buying an additional 817 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Advaxis by 4.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 22,000 shares of the biotechnology company’s stock worth $180,000 after buying an additional 1,000 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Advaxis by 2.9% in the 1st quarter. SG Americas Securities LLC now owns 49,333 shares of the biotechnology company’s stock worth $403,000 after buying an additional 1,398 shares in the last quarter. Finally, American International Group Inc. raised its holdings in shares of Advaxis by 7.6% in the 1st quarter. American International Group Inc. now owns 20,666 shares of the biotechnology company’s stock worth $169,000 after buying an additional 1,459 shares in the last quarter. 48.78% of the stock is owned by institutional investors and hedge funds.

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About Advaxis

Advaxis, Inc is a clinical-stage biotechnology company focused on the discovery, development and commercialization of Listeria monocytogenes (Lm)-Listeriolysin O (LLO) cancer immunotherapies. These immunotherapies are based on a platform technology that utilizes live attenuated Lm bioengineered to secrete antigen/adjuvant fusion proteins.

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