Arnold Baskies, a director at Anixa Biosciences Inc (NASDAQ:ANIX), purchased 10,000 shares of the company’s stock on January 28th. The shares were bought at an average price of $3.04 each, totaling $30,400. After this transaction, Baskies holds 135,000 shares in the company.
This purchase was disclosed in a recent filing and reflects a direct investment by a member of the company’s board.
**Why this matters**
Insider purchases can signal confidence in the company’s future prospects. Directors buying shares may indicate their positive outlook on the business and its potential for growth. However, such transactions should be considered alongside other factors when evaluating the stock.