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

AnaptysBio (NASDAQ:ANAB)‘s stock had its “outperform” rating restated by analysts at Wedbush in a research note issued on Thursday,RTT News reports. They currently have a $42.00 price target on the biotechnology company’s stock. Wedbush’s price target indicates a potential upside of 121.05% from the stock’s current price.

Other analysts have also issued reports about the company. HC Wainwright lowered their price objective on AnaptysBio from $55.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. JPMorgan Chase & Co. dropped their price target on shares of AnaptysBio from $75.00 to $66.00 and set an “overweight” rating on the stock in a research note on Tuesday. Truist Financial upped their price target on shares of AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Guggenheim raised their price target on shares of AnaptysBio from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, UBS Group raised their price target on shares of AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a 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 stock. According to data from MarketBeat, AnaptysBio presently has an average rating of “Moderate Buy” and an average target price of $54.64.

AnaptysBio Price Performance

NASDAQ ANAB opened at $19.00 on Thursday. AnaptysBio has a 1-year low of $13.36 and a 1-year high of $41.31. The company has a market cap of $578.17 million, a P/E ratio of -3.19 and a beta of -0.24. The stock has a 50-day moving average of $31.40 and a two-hundred day moving average of $29.89.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.72) by $0.58. The firm had revenue of $30.02 million for the quarter, compared to the consensus estimate of $7.92 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. On average, analysts anticipate that AnaptysBio will post -6.09 EPS for the current fiscal year.

Insider Buying and Selling at AnaptysBio

In other AnaptysBio news, CFO Dennis Mulroy sold 12,220 shares of the business’s stock in a transaction dated 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 owns 4,744 shares in the company, valued at approximately $189,333.04. The trade was a 72.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric J. Loumeau sold 8,720 shares of AnaptysBio stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $39.82, for a total transaction of $347,230.40. Following the sale, the insider now directly owns 7,020 shares in the company, valued at $279,536.40. The trade was a 55.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,440 shares of company stock worth $892,936 over the last ninety days. 33.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AnaptysBio

A number of large investors have recently modified their holdings of ANAB. Allspring Global Investments Holdings LLC purchased a new position in shares of AnaptysBio in the 1st quarter worth about $38,000. Values First Advisors Inc. purchased a new stake in AnaptysBio in the 3rd quarter worth approximately $49,000. nVerses Capital LLC increased its holdings in AnaptysBio by 700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock worth $54,000 after acquiring an additional 1,400 shares in the last quarter. Headlands Technologies LLC grew its holdings in 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 buying an additional 2,900 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in 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 valued at $195,000 after buying an additional 2,600 shares in 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.