AnaptysBio (NASDAQ:ANAB) Price Target Cut to $20.00 by Analysts at Truist Financial

AnaptysBio (NASDAQ:ANAB) had its price target decreased by research analysts at Truist Financial from $30.00 to $20.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the biotechnology company’s stock. Truist Financial’s price objective suggests a potential upside of 33.33% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. UBS Group increased their target price on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. BTIG Research cut shares of AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday, December 2nd. Guggenheim lowered their price target on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. HC Wainwright downgraded shares of AnaptysBio from a “buy” rating to a “neutral” rating and cut their price objective for the company from $52.00 to $19.00 in a report on Wednesday, December 11th. Finally, Wedbush reaffirmed an “outperform” rating and set a $40.00 target price (down from $42.00) on shares of AnaptysBio in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.45.

AnaptysBio Stock Performance

AnaptysBio stock opened at $15.00 on Wednesday. The stock has a 50-day simple moving average of $24.25 and a 200 day simple moving average of $29.21. The stock has a market capitalization of $456.44 million, a P/E ratio of -2.47 and a beta of -0.11. AnaptysBio has a 52 week low of $14.20 and a 52 week high of $41.31.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data 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 company had revenue of $30.02 million for the quarter, compared to analyst estimates of $7.92 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. Research analysts forecast that AnaptysBio will post -6.02 earnings per share for the current year.

Insider Buying and Selling at AnaptysBio

In other 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 completion of the transaction, the insider now directly owns 15,398 shares in the company, valued at approximately $595,440.66. This represents a 8.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently bought and sold shares of ANAB. FMR LLC grew its holdings in AnaptysBio by 15.3% during the 3rd quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock worth $110,857,000 after acquiring an additional 438,557 shares during the last quarter. Frazier Life Sciences Management L.P. increased its holdings 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 valued at $74,008,000 after purchasing an additional 43,598 shares during the period. Assenagon Asset Management S.A. increased its holdings 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 valued at $15,927,000 after purchasing an additional 168,813 shares during the period. Geode Capital Management LLC raised its position in AnaptysBio by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 465,401 shares of the biotechnology company’s stock worth $15,594,000 after purchasing an additional 13,336 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in AnaptysBio during the 3rd quarter worth about $8,874,000.

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.