HC Wainwright Reaffirms Buy Rating for AnaptysBio (NASDAQ:ANAB)

AnaptysBio (NASDAQ:ANAB)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They currently have a $55.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 153.69% from the company’s previous close.

A number of other research analysts have also weighed in on ANAB. JPMorgan Chase & Co. increased their price objective on AnaptysBio from $69.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Truist Financial increased their price objective on AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Wedbush reaffirmed an “outperform” rating and set a $42.00 target price on shares of AnaptysBio in a report on Thursday, September 26th. Guggenheim raised their target price on AnaptysBio from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, UBS Group raised their target price on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.73.

AnaptysBio Price Performance

Shares of NASDAQ:ANAB opened at $21.68 on Thursday. The business’s 50-day moving average is $34.28 and its 200 day moving average is $29.82. AnaptysBio has a 1 year low of $13.36 and a 1 year high of $41.31. The firm has a market capitalization of $594.77 million, a P/E ratio of -3.41 and a beta of -0.29.

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

Insiders Place Their Bets

In other news, major shareholder Ecor1 Capital, Llc bought 273,972 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $36.50 per share, for a total transaction of $9,999,978.00. Following the completion of the transaction, the insider now directly owns 7,794,996 shares in the company, valued at $284,517,354. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Ecor1 Capital, Llc bought 273,972 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $36.50 per share, for a total transaction of $9,999,978.00. Following the completion of the transaction, the insider now directly owns 7,794,996 shares in the company, valued at $284,517,354. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul F. Lizzul sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 owns 15,398 shares in the company, valued at approximately $595,440.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,440 shares of company stock worth $892,936. 33.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of AnaptysBio in the first quarter valued at approximately $38,000. Values First Advisors Inc. acquired a new stake in AnaptysBio during the third quarter worth $49,000. nVerses Capital LLC increased its stake in AnaptysBio by 700.0% during the third 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 during the last quarter. Headlands Technologies LLC increased its stake in AnaptysBio by 444.8% during the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock worth $89,000 after acquiring an additional 2,900 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in AnaptysBio by 81.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 2,600 shares during 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.