Wolfe Research Initiates Coverage on AnaptysBio (NASDAQ:ANAB)

Analysts at Wolfe Research initiated coverage on shares of AnaptysBio (NASDAQ:ANAB) in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $25.00 price target on the biotechnology company’s stock. Wolfe Research’s price target would indicate a potential upside of 50.06% from the stock’s current price.

Several other analysts also recently commented on ANAB. UBS Group raised their price objective on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. BTIG Research cut AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. lowered their target price on AnaptysBio from $66.00 to $36.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wedbush restated an “outperform” rating and issued a $40.00 target price on shares of AnaptysBio in a research note on Monday. Finally, Guggenheim decreased their price target 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. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, AnaptysBio presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.08.

AnaptysBio Trading Down 7.1 %

NASDAQ:ANAB opened at $16.66 on Tuesday. The firm has a market capitalization of $506.96 million and a price-to-earnings ratio of -2.74. AnaptysBio has a 1-year low of $12.51 and a 1-year high of $41.31. The business’s 50-day moving average price is $17.38 and its two-hundred day moving average price is $27.01.

AnaptysBio (NASDAQ:ANAB) last issued 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. The firm had revenue of $30.02 million during the quarter, compared to analysts’ expectations of $7.92 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. Sell-side analysts predict that AnaptysBio will post -6.08 earnings per share for the current year.

Insider Activity

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

Institutional Trading of AnaptysBio

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its holdings in shares of AnaptysBio by 49.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,312 shares of the biotechnology company’s stock worth $634,000 after acquiring an additional 8,418 shares during the period. Algert Global LLC lifted its stake in AnaptysBio by 11.8% during the second quarter. Algert Global LLC now owns 10,178 shares of the biotechnology company’s stock worth $255,000 after purchasing an additional 1,078 shares during the last quarter. SG Americas Securities LLC bought a new stake in AnaptysBio during the third quarter worth $405,000. nVerses Capital LLC boosted its holdings in shares of AnaptysBio by 700.0% in 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 in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of AnaptysBio by 55.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock valued at $15,927,000 after purchasing an additional 168,813 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.