Wolfe Research Begins Coverage on AnaptysBio (NASDAQ:ANAB)

Stock analysts at Wolfe Research initiated coverage on shares of AnaptysBio (NASDAQ:ANAB) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $25.00 price target on the biotechnology company’s stock. Wolfe Research’s target price would indicate a potential upside of 55.67% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $40.00 price objective on shares of AnaptysBio in a research note on Monday. BTIG Research downgraded shares of AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. Truist Financial reduced their price objective on AnaptysBio from $30.00 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. HC Wainwright reaffirmed a “neutral” rating and set a $19.00 target price on shares of AnaptysBio in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on AnaptysBio from $66.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four equities 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.08.

AnaptysBio Stock Performance

ANAB opened at $16.06 on Tuesday. The firm has a market capitalization of $488.71 million and a PE ratio of -2.64. AnaptysBio has a 52-week low of $12.51 and a 52-week high of $41.31. The business’s 50-day simple moving average is $17.05 and its 200 day simple moving average is $26.77.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $7.92 million. On average, research analysts forecast that AnaptysBio will post -6.08 earnings per share for the current year.

Insider Activity

In other news, Director Ecor1 Capital, Llc purchased 65,184 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average price of $12.92 per share, with a total value of $842,177.28. Following the completion of the acquisition, the director now owns 7,860,180 shares in the company, valued at $101,553,525.60. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

A number of large investors have recently added to or reduced their stakes in ANAB. Y Intercept Hong Kong Ltd purchased a new stake in AnaptysBio in the fourth quarter worth approximately $311,000. Rhumbline Advisers boosted its holdings in AnaptysBio by 3.8% during the 4th quarter. Rhumbline Advisers now owns 30,077 shares of the biotechnology company’s stock valued at $398,000 after acquiring an additional 1,111 shares during the period. Jennison Associates LLC grew its position in AnaptysBio by 1.6% during the 4th quarter. Jennison Associates LLC now owns 269,131 shares of the biotechnology company’s stock worth $3,563,000 after acquiring an additional 4,242 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in AnaptysBio by 11.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,452 shares of the biotechnology company’s stock worth $85,000 after purchasing an additional 644 shares during the period. Finally, SG Americas Securities LLC lifted its position in AnaptysBio by 35.0% in the fourth quarter. SG Americas Securities LLC now owns 16,307 shares of the biotechnology company’s stock valued at $216,000 after purchasing an additional 4,231 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.