AnaptysBio’s (ANAB) Outperform Rating Reiterated at Wedbush

AnaptysBio (NASDAQ:ANAB)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a report released on Wednesday, RTT News reports. They presently have a $42.00 target price on the biotechnology company’s stock. Wedbush’s price target would suggest a potential upside of 85.59% from the company’s current price.

ANAB has been the subject of several other reports. Guggenheim boosted their target price on shares of 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. increased their target price on shares of AnaptysBio from $69.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of AnaptysBio in a report on Thursday, October 31st. Truist Financial upped their target price on AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, UBS Group lifted their target price 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. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.73.

AnaptysBio Stock Performance

NASDAQ:ANAB traded up $2.75 during midday trading on Wednesday, reaching $22.63. 128,097 shares of the stock traded hands, compared to its average volume of 344,335. The stock has a market capitalization of $620.83 million, a PE ratio of -3.43 and a beta of -0.24. AnaptysBio has a 12-month low of $13.36 and a 12-month high of $41.31. The business has a 50-day moving average of $33.59 and a two-hundred day moving average of $29.94.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.72) by $0.58. AnaptysBio had a negative return on equity of 255.68% and a negative net margin of 558.25%. The company had revenue of $30.02 million during the quarter, compared to analyst estimates of $7.92 million. Research analysts anticipate that AnaptysBio will post -6.84 earnings per share for the current year.

Insiders Place Their Bets

In other AnaptysBio news, CFO Dennis Mulroy sold 12,220 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $39.91, for a total value of $487,700.20. Following the transaction, the chief financial officer now directly owns 4,744 shares in the company, valued at $189,333.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other AnaptysBio news, insider Paul F. Lizzul sold 1,500 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $38.67, for a total transaction of $58,005.00. Following the transaction, the insider now directly owns 15,398 shares of the company’s stock, valued at approximately $595,440.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Dennis Mulroy sold 12,220 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $39.91, for a total value of $487,700.20. Following the transaction, the chief financial officer now directly owns 4,744 shares in the company, valued at approximately $189,333.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,440 shares of company stock valued at $892,936 in the last ninety days. Insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ANAB. Allspring Global Investments Holdings LLC acquired a new position in AnaptysBio during the first quarter worth $38,000. Values First Advisors Inc. acquired a new position in AnaptysBio during the third quarter worth about $49,000. nVerses Capital LLC increased its holdings in AnaptysBio by 700.0% in the third quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock valued at $54,000 after buying an additional 1,400 shares in the last quarter. Headlands Technologies LLC lifted its position in shares of AnaptysBio by 444.8% during the 2nd quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 2,900 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of AnaptysBio by 81.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 2,600 shares in the last quarter.

AnaptysBio Company Profile

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.