JPMorgan Chase & Co. Has Lowered Expectations for AnaptysBio (NASDAQ:ANAB) Stock Price

AnaptysBio (NASDAQ:ANAB) had its target price lowered by analysts at JPMorgan Chase & Co. from $75.00 to $66.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 218.07% from the stock’s current price.

A number of other brokerages have also commented on ANAB. Truist Financial raised their price target on AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Wedbush reissued an “outperform” rating and set a $42.00 price objective on shares of AnaptysBio in a research report on Wednesday, November 6th. UBS Group raised their price objective on AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. HC Wainwright lowered their price objective on AnaptysBio from $55.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Guggenheim raised their price objective on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.64.

AnaptysBio Stock Down 3.5 %

Shares of ANAB stock opened at $20.75 on Tuesday. The stock has a fifty day moving average of $32.06 and a 200 day moving average of $30.02. AnaptysBio has a 52 week low of $13.36 and a 52 week high of $41.31. The firm has a market capitalization of $631.42 million, a price-to-earnings ratio of -3.45 and a beta of -0.24.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $7.92 million. Equities research analysts anticipate that AnaptysBio will post -6.09 earnings per share for the current year.

Insider Transactions at AnaptysBio

In other 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 value of $58,005.00. Following the completion of the transaction, the insider now owns 15,398 shares of the company’s stock, valued at $595,440.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other AnaptysBio news, insider Paul F. Lizzul sold 1,500 shares of the business’s stock in a transaction dated 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 owns 15,398 shares of the company’s stock, valued at approximately $595,440.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dennis Mulroy sold 12,220 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 4,744 shares of the company’s stock, valued at approximately $189,333.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,440 shares of company stock valued at $892,936 in the last quarter. 33.70% of the stock is owned by insiders.

Hedge Funds Weigh In On AnaptysBio

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers increased its position in shares of AnaptysBio by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 29,715 shares of the biotechnology company’s stock valued at $745,000 after purchasing an additional 525 shares during the last quarter. Algert Global LLC increased its position in shares of AnaptysBio by 11.8% during the 2nd quarter. Algert Global LLC now owns 10,178 shares of the biotechnology company’s stock valued at $255,000 after purchasing an additional 1,078 shares during the last quarter. nVerses Capital LLC increased its position in shares of AnaptysBio by 700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock valued at $54,000 after purchasing an additional 1,400 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of AnaptysBio during the 3rd quarter valued at about $49,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of AnaptysBio during the 1st quarter valued at about $38,000.

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.