AnaptysBio’s (ANAB) Outperform Rating Reaffirmed at Wedbush

AnaptysBio (NASDAQ:ANAB)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a note issued to investors on Thursday,RTT News reports. They currently have a $42.00 target price on the biotechnology company’s stock. Wedbush’s price target would suggest a potential upside of 121.05% from the stock’s current price.

Several other analysts have also recently commented on ANAB. JPMorgan Chase & Co. dropped their price target on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating for the company in a research report on Tuesday. Truist Financial upped their price target on AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. HC Wainwright decreased their target price on AnaptysBio from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Guggenheim increased their price target on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, UBS Group increased their price target on AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.64.

AnaptysBio Price Performance

ANAB opened at $19.00 on Thursday. AnaptysBio has a 1 year low of $13.36 and a 1 year high of $41.31. The firm has a market capitalization of $578.17 million, a PE ratio of -3.19 and a beta of -0.24. The business’s 50-day moving average is $31.40 and its two-hundred day moving average is $29.89.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, topping analysts’ consensus estimates of ($1.72) by $0.58. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The firm had revenue of $30.02 million during the quarter, compared to the consensus estimate of $7.92 million. As a group, sell-side analysts expect that AnaptysBio will post -6.09 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of AnaptysBio

Several hedge funds have recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc raised its position in shares of AnaptysBio by 74.4% during the second quarter. Ensign Peak Advisors Inc now owns 75,755 shares of the biotechnology company’s stock worth $1,898,000 after purchasing an additional 32,313 shares during the period. Acadian Asset Management LLC purchased a new position in AnaptysBio in the first quarter valued at about $420,000. Assenagon Asset Management S.A. grew its stake in AnaptysBio by 55.1% in the third quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock valued at $15,927,000 after purchasing an additional 168,813 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new stake in shares of AnaptysBio in the second quarter worth about $399,000. Finally, nVerses Capital LLC lifted its position in shares of AnaptysBio by 700.0% in the third quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock worth $54,000 after buying an additional 1,400 shares during the last quarter.

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.