AnaptysBio (NASDAQ:ANAB) Given New $36.00 Price Target at JPMorgan Chase & Co.

AnaptysBio (NASDAQ:ANAB) had its target price reduced by research analysts at JPMorgan Chase & Co. from $66.00 to $36.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 147.42% from the company’s current price.

Several other analysts have also recently weighed in on the company. UBS Group boosted 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. Truist Financial dropped their price target on shares of AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price objective (down from $42.00) on shares of AnaptysBio in a research note on Wednesday, December 11th. Guggenheim lowered their target price on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, HC Wainwright downgraded AnaptysBio from a “buy” rating to a “neutral” rating and cut their price target for the company from $52.00 to $19.00 in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.45.

AnaptysBio Price Performance

Shares of AnaptysBio stock opened at $14.55 on Thursday. The firm has a 50 day simple moving average of $23.87 and a 200 day simple moving average of $29.15. AnaptysBio has a fifty-two week low of $14.19 and a fifty-two week high of $41.31. The firm has a market cap of $442.74 million, a P/E ratio of -2.39 and a beta of -0.11.

AnaptysBio (NASDAQ:ANAB) last released its 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. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The company had revenue of $30.02 million during the quarter, compared to analysts’ expectations of $7.92 million. On average, sell-side analysts expect that AnaptysBio will post -6.02 EPS for the current year.

Insider Activity at AnaptysBio

In other AnaptysBio news, insider Paul F. Lizzul sold 1,500 shares of AnaptysBio stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.67, for a total transaction of $58,005.00. Following the transaction, the insider now directly owns 15,398 shares in the company, valued at approximately $595,440.66. The trade was a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 33.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

A number of hedge funds have recently modified their holdings of the business. Frazier Life Sciences Management L.P. grew its position in shares of AnaptysBio by 140.7% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,165,591 shares of the biotechnology company’s stock valued at $54,270,000 after purchasing an additional 1,265,891 shares during the period. FMR LLC lifted its stake in AnaptysBio by 15.3% in the third quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock valued at $110,857,000 after buying an additional 438,557 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of AnaptysBio in the third quarter valued at approximately $8,874,000. Victory Capital Management Inc. increased its position in shares of AnaptysBio by 677.9% during the third quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company’s stock worth $7,948,000 after acquiring an additional 206,750 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of AnaptysBio by 55.1% during the third quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after acquiring an additional 168,813 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.