HC Wainwright Has Lowered Expectations for AnaptysBio (NASDAQ:ANAB) Stock Price

AnaptysBio (NASDAQ:ANAB) had its price objective reduced by HC Wainwright from $55.00 to $52.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock. HC Wainwright also issued estimates for AnaptysBio’s Q4 2024 earnings at ($1.70) EPS, FY2024 earnings at ($6.18) EPS, FY2025 earnings at ($7.91) EPS, FY2026 earnings at ($10.47) EPS, FY2027 earnings at ($10.55) EPS and FY2028 earnings at ($9.66) EPS.

A number of other equities research analysts also recently commented on ANAB. Wedbush reiterated an “outperform” rating and set a $42.00 price objective on shares of AnaptysBio in a research report on Wednesday. UBS Group increased their price objective on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Guggenheim increased their price target on shares of AnaptysBio from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Truist Financial raised their price objective on AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of AnaptysBio from $69.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.45.

AnaptysBio Price Performance

Shares of ANAB stock opened at $21.31 on Wednesday. AnaptysBio has a 1-year low of $13.36 and a 1-year high of $41.31. The firm has a fifty day moving average of $32.66 and a two-hundred day moving average of $29.92. The firm has a market cap of $648.46 million, a P/E ratio of -3.50 and a beta of -0.24.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.72) by $0.58. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The firm had revenue of $30.02 million during the quarter, compared to analyst estimates of $7.92 million. On average, sell-side analysts expect that AnaptysBio will post -6.84 EPS for the current year.

Insider Transactions at AnaptysBio

In related news, major shareholder Ecor1 Capital, Llc purchased 273,972 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $36.50 per share, with a total value of $9,999,978.00. Following the purchase, the insider now directly owns 7,794,996 shares in the company, valued at $284,517,354. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AnaptysBio news, major shareholder Ecor1 Capital, Llc bought 273,972 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of $36.50 per share, for a total transaction of $9,999,978.00. Following the completion of the acquisition, the insider now owns 7,794,996 shares of the company’s stock, valued at approximately $284,517,354. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul F. Lizzul sold 1,500 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.67, for a total transaction of $58,005.00. Following the transaction, the insider now owns 15,398 shares in the company, valued at approximately $595,440.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,440 shares of company stock valued at $892,936. Company insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC acquired a new position in shares of AnaptysBio in the 3rd quarter valued at $229,000. Jennison Associates LLC acquired a new position in AnaptysBio in the third quarter valued at about $8,874,000. Victory Capital Management Inc. increased its holdings in shares of AnaptysBio by 677.9% in the third quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company’s stock worth $7,948,000 after acquiring an additional 206,750 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of AnaptysBio during the 3rd quarter valued at about $574,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of AnaptysBio by 81.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 2,600 shares during the period.

About AnaptysBio

AnaptysBio, Inc, a clinical-stage biotechnology company, focuses in delivering immunology therapeutics. Its products include Rosnilimab, an IgG1 antibody that targets PD-1+ T cells, resulting in their agonism or depletion, broadly impacting pathogenic drivers of autoimmune and inflammatory diseases; and ANB032, a non-depleting antibody that binds to the BTLA checkpoint receptor and inhibits activated T cell proliferation; ANB033, a novel anti-CD122 antagonist antibody that targets the shared common beta subunit of the receptors for IL-15 and IL-2; ANB101, a BDCA2 modulator antibody that specifically targets plasmacytoid dendritic cells (pDCs); and Imsidolimab, an antibody that inhibits the interleukin-36 receptor, which is in the Phase 3 development for the treatment of generalized pustular psoriasis.