EXCLUSIVE: Anixa Biosciences Tells Benzinga Co's Board Of Directors Has Authorized A Share Repurchase Program Up To $5 Million Of The Co's Common Stock
Portfolio Pulse from Benzinga Newsdesk
Anixa Biosciences has announced that its Board of Directors has authorized a share repurchase program of up to $5 million of the company's common stock.
July 15, 2024 | 12:00 pm
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POSITIVE IMPACT
Anixa Biosciences' Board of Directors has authorized a share repurchase program of up to $5 million. This move is likely to positively impact the stock price in the short term as it signals confidence in the company's future prospects and can reduce the number of shares outstanding.
Share repurchase programs are generally viewed positively by investors as they indicate that the company believes its stock is undervalued. Additionally, buybacks reduce the number of shares outstanding, which can increase earnings per share (EPS) and potentially drive the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100