Wedbush Reaffirms Outperform Rating for AnaptysBio (NASDAQ:ANAB)

AnaptysBio (NASDAQ:ANAB)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a report issued on Thursday, Benzinga reports. They currently have a $42.00 target price on the biotechnology company’s stock. Wedbush’s price target indicates a potential upside of 29.79% from the stock’s current price.

Other equities analysts have also issued reports about the stock. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of AnaptysBio in a research report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on AnaptysBio from $69.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Truist Financial increased their price target on AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, AnaptysBio has a consensus rating of “Moderate Buy” and a consensus price target of $51.10.

AnaptysBio Stock Up 0.1 %

AnaptysBio stock traded up $0.02 during mid-day trading on Thursday, hitting $32.36. The company had a trading volume of 33,678 shares, compared to its average volume of 326,649. The stock has a market cap of $887.63 million, a price-to-earnings ratio of -5.27 and a beta of -0.29. The business has a fifty day moving average of $35.75 and a 200 day moving average of $28.06. AnaptysBio has a 1 year low of $13.36 and a 1 year high of $41.31.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Monday, August 5th. The biotechnology company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.82). The business had revenue of $10.97 million for the quarter, compared to analysts’ expectations of $25.85 million. AnaptysBio had a negative return on equity of 255.68% and a negative net margin of 558.25%. Equities analysts anticipate that AnaptysBio will post -6.84 earnings per share for the current year.

Insider Buying and Selling

In other AnaptysBio news, major shareholder Ecor1 Capital, Llc purchased 273,972 shares of the stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $36.50 per share, for a total transaction of $9,999,978.00. Following the acquisition, the insider now directly owns 7,794,996 shares of the company’s stock, valued at $284,517,354. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Dennis Mulroy sold 12,220 shares of AnaptysBio stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $39.91, for a total value of $487,700.20. Following the transaction, the chief financial officer now directly owns 4,744 shares of the company’s stock, valued at approximately $189,333.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ecor1 Capital, Llc acquired 273,972 shares of AnaptysBio stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of $36.50 per share, for a total transaction of $9,999,978.00. Following the completion of the purchase, the insider now directly owns 7,794,996 shares in the company, valued at $284,517,354. The disclosure for this purchase can be found here. In the last quarter, insiders sold 33,940 shares of company stock worth $1,251,836. 33.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently modified their holdings of ANAB. Trexquant Investment LP lifted its position in AnaptysBio by 107.6% during the 4th quarter. Trexquant Investment LP now owns 21,832 shares of the biotechnology company’s stock worth $468,000 after acquiring an additional 11,318 shares in the last quarter. Franklin Resources Inc. raised its position in shares of AnaptysBio by 22.7% in the 4th quarter. Franklin Resources Inc. now owns 405,115 shares of the biotechnology company’s stock valued at $8,678,000 after purchasing an additional 75,025 shares in the last quarter. First Light Asset Management LLC raised its position in shares of AnaptysBio by 56.4% in the 4th quarter. First Light Asset Management LLC now owns 1,237,178 shares of the biotechnology company’s stock valued at $26,500,000 after purchasing an additional 446,372 shares in the last quarter. Great Point Partners LLC raised its position in shares of AnaptysBio by 9.2% in the 4th quarter. Great Point Partners LLC now owns 976,981 shares of the biotechnology company’s stock valued at $20,927,000 after purchasing an additional 82,648 shares in the last quarter. Finally, Octagon Capital Advisors LP acquired a new position in shares of AnaptysBio in the 4th quarter valued at approximately $2,570,000.

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.