Wedbush Reaffirms “Outperform” Rating for AnaptysBio (NASDAQ:ANAB)

Wedbush reaffirmed their outperform rating on shares of AnaptysBio (NASDAQ:ANAB) in a research report sent to investors on Thursday morning, Benzinga reports. Wedbush currently has a $42.00 price objective on the biotechnology company’s stock.

A number of other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. lifted their target price on AnaptysBio from $69.00 to $75.00 and gave the company an overweight rating in a research report on Wednesday, August 7th. HC Wainwright reaffirmed a buy rating and issued a $55.00 price objective on shares of AnaptysBio in a research note on Wednesday, August 14th. Finally, Truist Financial increased their target price on shares of AnaptysBio from $20.00 to $30.00 and gave the stock a hold rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $51.10.

AnaptysBio Trading Down 2.0 %

NASDAQ ANAB opened at $31.87 on Thursday. The stock has a market cap of $870.66 million, a PE ratio of -5.19 and a beta of -0.29. AnaptysBio has a 12 month low of $13.36 and a 12 month high of $41.31. The company’s 50-day moving average price is $35.68 and its 200-day moving average price is $28.15.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Monday, August 5th. The biotechnology company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.82). AnaptysBio had a negative return on equity of 255.68% and a negative net margin of 558.25%. The company had revenue of $10.97 million during the quarter, compared to the consensus estimate of $25.85 million. As a group, sell-side analysts forecast that AnaptysBio will post -6.84 earnings per share for the current year.

Insider Activity

In related news, insider Paul F. Lizzul sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $35.00, for a total transaction of $52,500.00. Following the completion of the transaction, the insider now owns 11,618 shares in the company, valued at approximately $406,630. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other AnaptysBio news, major shareholder Ecor1 Capital, Llc purchased 273,972 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $36.50 per share, for a total transaction of $9,999,978.00. Following the completion of the purchase, the insider now owns 7,794,996 shares of the company’s stock, valued at $284,517,354. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul F. Lizzul sold 1,500 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $35.00, for a total transaction of $52,500.00. Following the completion of the transaction, the insider now directly owns 11,618 shares of the company’s stock, valued at $406,630. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,940 shares of company stock worth $1,251,836. Corporate insiders own 33.70% of the company’s stock.

Institutional Trading of AnaptysBio

Several large investors have recently bought and sold shares of the stock. Fisher Asset Management LLC grew its holdings in shares of AnaptysBio by 0.7% during the fourth quarter. Fisher Asset Management LLC now owns 71,154 shares of the biotechnology company’s stock valued at $1,524,000 after buying an additional 500 shares during the last quarter. Rhumbline Advisers grew its stake in AnaptysBio by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 29,715 shares of the biotechnology company’s stock valued at $745,000 after purchasing an additional 525 shares during the last quarter. Algert Global LLC increased its holdings in shares of AnaptysBio by 11.8% in the second quarter. Algert Global LLC now owns 10,178 shares of the biotechnology company’s stock valued at $255,000 after purchasing an additional 1,078 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of AnaptysBio in the first quarter worth about $38,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of AnaptysBio by 66.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,123 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 2,051 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.