AnaptysBio (NASDAQ:ANAB) Given Outperform Rating at Wedbush

AnaptysBio (NASDAQ:ANAB)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a note issued to investors on Wednesday,RTT News reports. They presently have a $40.00 price objective on the biotechnology company’s stock. Wedbush’s price objective would suggest a potential upside of 147.68% from the stock’s current price.

A number of other equities analysts have also weighed in on ANAB. Wolfe Research initiated coverage on AnaptysBio in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price objective for the company. Truist Financial reduced 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. Guggenheim reduced their price objective on AnaptysBio from $90.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. UBS Group raised their price objective on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company dropped their target price on AnaptysBio from $56.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.08.

AnaptysBio Stock Up 30.5 %

Shares of NASDAQ ANAB traded up $3.77 during trading hours on Wednesday, reaching $16.15. 13,799,459 shares of the stock traded hands, compared to its average volume of 1,155,979. The company has a market capitalization of $491.44 million and a P/E ratio of -2.66. AnaptysBio has a 52-week low of $12.21 and a 52-week high of $41.31. The company’s 50-day simple moving average is $16.06 and its two-hundred day simple moving average is $25.98.

Insiders Place Their Bets

In related news, Director Ecor1 Capital, Llc purchased 6,646 shares of AnaptysBio stock in a transaction dated 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 acquisition, the director now directly owns 7,880,094 shares of the company’s stock, valued at $102,047,217.30. This represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its stake in shares of AnaptysBio by 11.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,452 shares of the biotechnology company’s stock valued at $85,000 after acquiring an additional 644 shares in the last quarter. Rhumbline Advisers increased its stake in shares of AnaptysBio by 3.8% in the 4th quarter. Rhumbline Advisers now owns 30,077 shares of the biotechnology company’s stock valued at $398,000 after acquiring an additional 1,111 shares in the last quarter. nVerses Capital LLC increased its stake in shares of AnaptysBio by 700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 1,400 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of AnaptysBio in the 3rd quarter valued at $49,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of AnaptysBio in the 4th quarter valued at $40,000.

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.