AnaptysBio (NASDAQ:ANAB) Upgraded at Wolfe Research

AnaptysBio (NASDAQ:ANAB) was upgraded by analysts at Wolfe Research to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

ANAB has been the topic of several other reports. UBS Group increased their price target on AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Truist Financial lowered their price target on AnaptysBio from $30.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. BTIG Research cut AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of AnaptysBio in a report on Monday. Finally, JPMorgan Chase & Co. decreased their target price on AnaptysBio from $66.00 to $36.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.08.

AnaptysBio Trading Down 0.9 %

Shares of ANAB opened at $16.51 on Monday. The business’s fifty day simple moving average is $17.23 and its two-hundred day simple moving average is $26.89. AnaptysBio has a 12 month low of $12.51 and a 12 month high of $41.31. The company has a market cap of $502.40 million and a price-to-earnings ratio of -2.72.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, beating the consensus estimate of ($1.72) by $0.58. The firm had revenue of $30.02 million for the quarter, compared to analysts’ expectations of $7.92 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. As a group, research analysts forecast that AnaptysBio will post -6.08 EPS for the current year.

Insider Activity

In related news, Director Ecor1 Capital, Llc purchased 6,646 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was bought at an average price of $12.95 per share, for a total transaction of $86,065.70. Following the completion of the transaction, the director now owns 7,880,094 shares in the company, valued at approximately $102,047,217.30. The trade was a 0.08 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. lifted its stake in AnaptysBio by 2.0% in the third quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company’s stock worth $74,008,000 after purchasing an additional 43,598 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in AnaptysBio by 202.8% in the third quarter. Point72 Asset Management L.P. now owns 54,200 shares of the biotechnology company’s stock worth $1,816,000 after purchasing an additional 36,300 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in AnaptysBio by 191.4% in the third quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company’s stock worth $1,130,000 after purchasing an additional 22,164 shares during the last quarter. Victory Capital Management Inc. lifted its stake in AnaptysBio by 677.9% in the third quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company’s stock worth $7,948,000 after purchasing an additional 206,750 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in AnaptysBio by 55.1% in the third quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after purchasing an additional 168,813 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.