Shares of Advaxis, Inc. (NASDAQ:ADXS) saw strong trading volume on Tuesday after the company announced better than expected quarterly earnings. 2,137,664 shares changed hands during trading, an increase of 151% from the previous session’s volume of 851,683 shares.The stock last traded at $0.41 and had previously closed at $0.33.

The biotechnology company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.43. Advaxis had a negative return on equity of 103.90% and a negative net margin of 140.12%. The firm had revenue of $19.69 million for the quarter.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Advaxis from a “hold” rating to a “buy” rating and set a $0.50 price target on the stock in a report on Wednesday, February 20th. ValuEngine downgraded Advaxis from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Finally, HC Wainwright downgraded Advaxis from a “buy” rating to a “neutral” rating in a report on Tuesday, December 18th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC increased its holdings in Advaxis by 740.4% during the 4th quarter. Virtu Financial LLC now owns 176,213 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 155,246 shares during the period. Two Sigma Investments LP increased its holdings in Advaxis by 2,468.2% during the 4th quarter. Two Sigma Investments LP now owns 369,815 shares of the biotechnology company’s stock worth $70,000 after purchasing an additional 355,415 shares during the period. BlackRock Inc. increased its holdings in Advaxis by 3.1% during the 4th quarter. BlackRock Inc. now owns 1,446,288 shares of the biotechnology company’s stock worth $275,000 after purchasing an additional 43,368 shares during the period. Renaissance Technologies LLC increased its holdings in Advaxis by 173.0% during the 3rd quarter. Renaissance Technologies LLC now owns 1,191,846 shares of the biotechnology company’s stock worth $1,120,000 after purchasing an additional 755,352 shares during the period. Finally, Vanguard Group Inc increased its holdings in Advaxis by 48.3% during the 3rd quarter. Vanguard Group Inc now owns 2,630,658 shares of the biotechnology company’s stock worth $2,473,000 after purchasing an additional 857,026 shares during the period. Institutional investors own 22.49% of the company’s stock.

The firm has a market capitalization of $35.34 million, a P/E ratio of -0.33 and a beta of 3.94.

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About Advaxis (NASDAQ:ADXS)

Advaxis, Inc, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of Listeria monocytogenes (Lm) technology based antigen delivery product in the United States. It is developing therapies for HPV-related cancers using axalimogene filolisbac (AXAL) for the treatment of head and neck cancer.

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