AnaptysBio (NASDAQ:ANAB) Receives “Outperform” Rating from Wedbush

AnaptysBio (NASDAQ:ANAB)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a research report issued on Thursday,RTT News reports. They currently have a $42.00 price target on the biotechnology company’s stock. Wedbush’s target price would suggest a potential upside of 108.23% from the company’s previous close.

Several other brokerages also recently weighed in on ANAB. HC Wainwright cut 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. UBS Group lifted their target price on AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Guggenheim lifted their target price on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. cut their target price on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Truist Financial lifted their target price on AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.64.

AnaptysBio Price Performance

NASDAQ:ANAB traded down $0.58 during midday trading on Thursday, reaching $20.17. 348,252 shares of the company traded hands, compared to its average volume of 349,416. AnaptysBio has a twelve month low of $13.36 and a twelve month high of $41.31. The firm has a market capitalization of $613.77 million, a price-to-earnings ratio of -3.32 and a beta of -0.24. The company has a fifty day moving average price of $31.73 and a 200 day moving average price of $29.96.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data 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 return on equity of 287.94% and a negative net margin of 289.75%. The business had revenue of $30.02 million during the quarter, compared to analyst estimates of $7.92 million. On average, equities research analysts forecast that AnaptysBio will post -6.09 earnings per share for the current fiscal year.

Insider Transactions at AnaptysBio

In other news, insider Paul F. Lizzul sold 1,500 shares of AnaptysBio stock in a transaction on 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. The trade was a 8.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric J. Loumeau sold 8,720 shares of AnaptysBio stock in a transaction on Monday, September 16th. The shares were sold at an average price of $39.82, for a total value of $347,230.40. Following the transaction, the insider now owns 7,020 shares in the company, valued at $279,536.40. This represents a 55.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,440 shares of company stock valued at $892,936 over the last three months. Company insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Fred Alger Management LLC acquired a new stake in shares of AnaptysBio in the third quarter worth about $602,000. Verition Fund Management LLC acquired a new stake in shares of AnaptysBio in the third quarter worth about $738,000. Walleye Capital LLC acquired a new position in shares of AnaptysBio during the 3rd quarter worth about $5,494,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of AnaptysBio by 10.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 32,884 shares of the biotechnology company’s stock worth $1,102,000 after purchasing an additional 3,223 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of AnaptysBio by 6,009.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 66,109 shares of the biotechnology company’s stock worth $2,215,000 after purchasing an additional 65,027 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.