Truist Financial Cuts AnaptysBio (NASDAQ:ANAB) Price Target to $20.00

AnaptysBio (NASDAQ:ANAB) had its price target trimmed by Truist Financial from $30.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the biotechnology company’s stock.

A number of other brokerages have also recently commented on ANAB. Wedbush reiterated an “outperform” rating and set a $40.00 target price (down previously from $42.00) on shares of AnaptysBio in a report on Wednesday, December 11th. JPMorgan Chase & Co. dropped their price objective on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Guggenheim reduced their target price on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. UBS Group lifted their price target on shares of AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company reduced their price objective on shares of AnaptysBio from $56.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.45.

AnaptysBio Stock Down 3.0 %

NASDAQ:ANAB opened at $14.55 on Wednesday. The company has a market capitalization of $442.74 million, a PE ratio of -2.39 and a beta of -0.11. AnaptysBio has a 52-week low of $14.19 and a 52-week high of $41.31. The stock has a fifty day simple moving average of $23.87 and a 200-day simple moving average of $29.15.

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, topping 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 company had revenue of $30.02 million during the quarter, compared to analysts’ expectations of $7.92 million. As a group, equities analysts anticipate that AnaptysBio will post -6.02 earnings per share for the current year.

Insider Transactions at AnaptysBio

In related news, insider Paul F. Lizzul sold 1,500 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $38.67, for a total transaction of $58,005.00. Following the completion of the sale, the insider now owns 15,398 shares of the company’s stock, valued at approximately $595,440.66. This represents a 8.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Values First Advisors Inc. acquired a new stake in shares of AnaptysBio in the third quarter worth $49,000. nVerses Capital LLC increased its holdings in AnaptysBio by 700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock valued at $54,000 after purchasing an additional 1,400 shares in the last quarter. Headlands Technologies LLC raised its position in AnaptysBio by 444.8% in the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock valued at $89,000 after purchasing an additional 2,900 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of AnaptysBio by 81.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock worth $195,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Point72 DIFC Ltd boosted its position in shares of AnaptysBio by 680.5% in the third quarter. Point72 DIFC Ltd now owns 6,127 shares of the biotechnology company’s stock worth $205,000 after buying an additional 5,342 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.