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

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

A number of other equities research analysts have also issued reports on ANAB. HC Wainwright lowered AnaptysBio from a “buy” rating to a “neutral” rating and reduced their price target for the company from $52.00 to $19.00 in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their price target on shares of AnaptysBio from $56.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on shares of AnaptysBio from $75.00 to $66.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. UBS Group raised their price objective on shares of AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Guggenheim lowered their target price on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.18.

AnaptysBio Price Performance

Shares of AnaptysBio stock opened at $15.34 on Wednesday. The stock has a market capitalization of $466.78 million, a price-to-earnings ratio of -2.52 and a beta of -0.11. The business has a 50-day moving average of $24.59 and a 200 day moving average of $29.31. AnaptysBio has a 12 month low of $14.20 and a 12 month high of $41.31.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $30.02 million for the quarter, compared to the consensus estimate of $7.92 million. Equities research analysts anticipate that AnaptysBio will post -6.02 earnings per share for the current year.

Insider Activity

In other news, insider Paul F. Lizzul sold 1,500 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.67, for a total value of $58,005.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 33.70% of the company’s stock.

Institutional Trading of AnaptysBio

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in shares of AnaptysBio by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 74,510 shares of the biotechnology company’s stock valued at $1,867,000 after purchasing an additional 10,423 shares during the period. Rhumbline Advisers boosted its holdings in shares of AnaptysBio by 1.8% in the second quarter. Rhumbline Advisers now owns 29,715 shares of the biotechnology company’s stock valued at $745,000 after acquiring an additional 525 shares in the last quarter. TD Asset Management Inc increased its stake in shares of AnaptysBio by 67.3% during the second quarter. TD Asset Management Inc now owns 37,800 shares of the biotechnology company’s stock worth $947,000 after acquiring an additional 15,200 shares during the period. Headlands Technologies LLC increased its stake in shares of AnaptysBio by 444.8% during the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock worth $89,000 after acquiring an additional 2,900 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in AnaptysBio by 52.4% during the second quarter. Renaissance Technologies LLC now owns 152,702 shares of the biotechnology company’s stock worth $3,827,000 after purchasing an additional 52,502 shares in 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.