JPMorgan Chase & Co. Cuts AnaptysBio (NASDAQ:ANAB) Price Target to $66.00

AnaptysBio (NASDAQ:ANAB) had its price objective trimmed by JPMorgan Chase & Co. from $75.00 to $66.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

Several other analysts also recently commented on ANAB. Guggenheim increased their price objective on AnaptysBio from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Wedbush reissued an “outperform” rating and issued a $42.00 price objective on shares of AnaptysBio in a research note on Wednesday, November 6th. HC Wainwright reduced their target price on AnaptysBio from $55.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. UBS Group upped their target price on AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Truist Financial upped their target price on AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.64.

AnaptysBio Stock Performance

ANAB stock opened at $20.17 on Tuesday. The company has a market cap of $613.77 million, a P/E ratio of -3.32 and a beta of -0.24. AnaptysBio has a fifty-two week low of $13.36 and a fifty-two week high of $41.31. The stock’s 50 day simple moving average is $31.73 and its 200 day simple moving average is $29.96.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.72) by $0.58. The firm had revenue of $30.02 million during the quarter, compared to the consensus estimate of $7.92 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. Equities analysts predict that AnaptysBio will post -6.09 earnings per share for the current year.

Insider Activity

In other news, CFO Dennis Mulroy sold 12,220 shares of AnaptysBio stock in a transaction on Monday, September 16th. The stock was sold at an average price of $39.91, for a total value of $487,700.20. Following the completion of the transaction, the chief financial officer now directly owns 4,744 shares in the company, valued at approximately $189,333.04. The trade was a 72.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul F. Lizzul sold 1,500 shares of AnaptysBio stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $38.67, for a total value of $58,005.00. Following the sale, the insider now directly owns 15,398 shares of the company’s stock, valued at $595,440.66. This represents a 8.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,440 shares of company stock worth $892,936. 33.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

Several large investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in AnaptysBio by 15.3% during the third quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock worth $110,857,000 after purchasing an additional 438,557 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its stake in shares of AnaptysBio by 140.7% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,165,591 shares of the biotechnology company’s stock valued at $54,270,000 after acquiring an additional 1,265,891 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of AnaptysBio by 55.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock valued at $15,927,000 after acquiring an additional 168,813 shares during the last quarter. StemPoint Capital LP lifted its stake in shares of AnaptysBio by 499.0% in the 1st quarter. StemPoint Capital LP now owns 269,548 shares of the biotechnology company’s stock valued at $6,070,000 after acquiring an additional 224,548 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of AnaptysBio in the 3rd quarter valued at about $8,874,000.

AnaptysBio Company Profile

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.