Wedbush Reiterates Outperform Rating for AnaptysBio (NASDAQ:ANAB)

AnaptysBio (NASDAQ:ANAB)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report issued on Wednesday,RTT News reports. They presently have a $40.00 target price on the biotechnology company’s stock. Wedbush’s price objective indicates a potential upside of 107.36% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Wolfe Research started coverage on AnaptysBio in a research note on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price target for the company. Guggenheim cut their target price on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. HC Wainwright reaffirmed a “neutral” rating and set a $19.00 price objective on shares of AnaptysBio in a research note on Tuesday, February 4th. UBS Group upped their price objective on shares of AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, BTIG Research cut AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $41.00.

AnaptysBio Stock Up 19.4 %

NASDAQ:ANAB opened at $19.29 on Wednesday. The company has a market capitalization of $586.99 million and a PE ratio of -3.17. AnaptysBio has a 52-week low of $12.21 and a 52-week high of $41.31. The stock has a fifty day simple moving average of $15.91 and a 200-day simple moving average of $25.91.

Insider Activity

In other news, Director Ecor1 Capital, Llc purchased 6,646 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were acquired at an average cost of $12.95 per share, with a total value of $86,065.70. Following the transaction, the director now owns 7,880,094 shares in the company, valued at approximately $102,047,217.30. The trade was a 0.08 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Several institutional investors and hedge funds have recently made changes to their positions in ANAB. The Manufacturers Life Insurance Company increased its position in AnaptysBio by 49.8% in the second quarter. The Manufacturers Life Insurance Company now owns 25,312 shares of the biotechnology company’s stock worth $634,000 after buying an additional 8,418 shares during the period. SG Americas Securities LLC bought a new position in shares of AnaptysBio in the third quarter worth $405,000. nVerses Capital LLC grew its stake in shares of AnaptysBio by 700.0% in the third quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 1,400 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of AnaptysBio by 55.1% in the third quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after purchasing an additional 168,813 shares in the last quarter. Finally, Values First Advisors Inc. bought a new position in shares of AnaptysBio in the third quarter worth $49,000.

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.