JPMorgan Chase & Co. Has Lowered Expectations for AnaptysBio (NASDAQ:ANAB) Stock Price

AnaptysBio (NASDAQ:ANAB) had its price target lowered by equities researchers at JPMorgan Chase & Co. from $66.00 to $36.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 139.52% from the company’s current price.

Several other equities analysts also recently commented on ANAB. Wedbush reissued an “outperform” rating and issued a $40.00 price objective (down previously from $42.00) on shares of AnaptysBio in a research note on Wednesday, December 11th. UBS Group lifted their price target on shares of AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial reduced their target price on shares of AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a research note on Wednesday. HC Wainwright downgraded AnaptysBio from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $52.00 to $19.00 in a research note on Wednesday, December 11th. Finally, BTIG Research lowered shares of AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, AnaptysBio currently has an average rating of “Moderate Buy” and a consensus target price of $41.45.

AnaptysBio Price Performance

NASDAQ ANAB traded down $0.31 during trading on Thursday, reaching $15.03. 114,525 shares of the company’s stock were exchanged, compared to its average volume of 383,324. The business has a 50 day moving average price of $24.59 and a 200-day moving average price of $29.31. AnaptysBio has a fifty-two week low of $14.20 and a fifty-two week high of $41.31. The stock has a market capitalization of $457.35 million, a P/E ratio of -2.47 and a beta of -0.11.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $7.92 million. On average, analysts forecast that AnaptysBio will post -6.02 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Paul F. Lizzul sold 1,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 33.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AnaptysBio

A number of large investors have recently modified their holdings of the company. Barclays PLC increased its stake in AnaptysBio by 117.4% during the third quarter. Barclays PLC now owns 44,300 shares of the biotechnology company’s stock valued at $1,486,000 after purchasing an additional 23,926 shares during the last quarter. Geode Capital Management LLC lifted its stake in AnaptysBio by 3.0% during the third quarter. Geode Capital Management LLC now owns 465,401 shares of the biotechnology company’s stock valued at $15,594,000 after buying an additional 13,336 shares in the last quarter. Frazier Life Sciences Management L.P. increased its holdings in shares of AnaptysBio by 2.0% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company’s stock valued at $74,008,000 after purchasing an additional 43,598 shares during the period. XTX Topco Ltd lifted its holdings in shares of AnaptysBio by 49.1% during the 3rd quarter. XTX Topco Ltd now owns 20,286 shares of the biotechnology company’s stock valued at $680,000 after buying an additional 6,683 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of AnaptysBio by 4.8% in the third quarter. Wellington Management Group LLP now owns 65,939 shares of the biotechnology company’s stock valued at $2,209,000 after purchasing an additional 3,048 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.