AnaptysBio (NASDAQ:ANAB) Receives “Outperform” Rating from Wedbush

AnaptysBio (NASDAQ:ANAB)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a research note issued to investors on Thursday,RTT News reports. They presently have a $42.00 target price on the biotechnology company’s stock. Wedbush’s target price indicates a potential upside of 108.23% from the company’s previous close.

Several other equities analysts have also recently commented on ANAB. Truist Financial upped their price target on AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. cut their price target on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating for the company in a report on Tuesday. Guggenheim upped their price target on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, October 21st. UBS Group upped 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. Finally, HC Wainwright cut their price target on AnaptysBio from $55.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.64.

AnaptysBio Price Performance

Shares of NASDAQ ANAB traded down $0.58 during trading hours on Thursday, hitting $20.17. 348,252 shares of the company’s stock were exchanged, compared to its average volume of 349,416. AnaptysBio has a 1-year low of $13.36 and a 1-year high of $41.31. The stock has a market capitalization of $613.77 million, a price-to-earnings ratio of -3.32 and a beta of -0.24. The company’s 50-day moving average price is $31.73 and its 200-day moving average price is $29.96.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.72) by $0.58. The firm had revenue of $30.02 million during 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%. On average, research analysts expect that AnaptysBio will post -6.09 earnings per share for the current year.

Insider Buying and Selling

In other AnaptysBio news, insider Paul F. Lizzul sold 1,500 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $38.67, for a total value of $58,005.00. Following the transaction, the insider now directly owns 15,398 shares in the company, valued at approximately $595,440.66. This trade represents a 8.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dennis Mulroy sold 12,220 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 4,744 shares in the company, valued at $189,333.04. The trade was a 72.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,440 shares of company stock worth $892,936 in the last three months. Insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Fred Alger Management LLC bought a new position in AnaptysBio in the 3rd quarter valued at $602,000. Verition Fund Management LLC acquired a new position in shares of AnaptysBio in the 3rd quarter valued at $738,000. Walleye Capital LLC acquired a new position in shares of AnaptysBio in the 3rd quarter valued at $5,494,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of AnaptysBio by 10.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 32,884 shares of the biotechnology company’s stock valued at $1,102,000 after purchasing an additional 3,223 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of AnaptysBio by 6,009.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 66,109 shares of the biotechnology company’s stock valued at $2,215,000 after purchasing an additional 65,027 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.