Wedbush Reaffirms “Outperform” Rating for AnaptysBio (NASDAQ:ANAB)

by · The Markets Daily

AnaptysBio (NASDAQ:ANAB – Get Free Report)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a note issued to investors on Wednesday,RTT News reports. They currently have a $40.00 price objective on the biotechnology company’s stock, down from their prior price objective of $42.00. Wedbush’s price objective would suggest a potential upside of 157.90% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Truist Financial lifted their price objective on shares of AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. BTIG Research cut shares of AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday, December 2nd. HC Wainwright lowered AnaptysBio from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $52.00 to $19.00 in a research report on Wednesday. Finally, UBS Group upped 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. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.45.

View Our Latest Stock Analysis on ANAB

AnaptysBio Price Performance

AnaptysBio stock traded down $7.58 during midday trading on Wednesday, reaching $15.51. 4,098,777 shares of the company traded hands, compared to its average volume of 377,908. The firm has a market capitalization of $471.97 million, a price-to-earnings ratio of -2.55 and a beta of -0.11. The business has a 50 day moving average of $26.72 and a two-hundred day moving average of $29.68. AnaptysBio has a 12 month low of $14.20 and a 12 month high of $41.31.

AnaptysBio (NASDAQ:ANAB – Get Free Report) last announced its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.72) by $0.58. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The business had revenue of $30.02 million during the quarter, compared to analysts’ expectations of $7.92 million. As a group, equities analysts forecast that AnaptysBio will post -6.02 EPS for the current year.

Insiders Place Their Bets

In other news, insider Paul F. Lizzul sold 1,500 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 15,398 shares of the company’s stock, valued at $595,440.66. This trade represents a 8.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dennis Mulroy sold 12,220 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were 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 in the company, valued at $189,333.04. This represents a 72.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,440 shares of company stock worth $892,936. 33.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ANAB. Rhumbline Advisers grew its holdings in AnaptysBio by 1.8% during the second quarter. Rhumbline Advisers now owns 29,715 shares of the biotechnology company’s stock worth $745,000 after acquiring an additional 525 shares during the period. Algert Global LLC boosted its position in AnaptysBio by 11.8% in the 2nd 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 in the last quarter. nVerses Capital LLC grew its stake 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 worth $54,000 after purchasing an additional 1,400 shares during the period. Values First Advisors Inc. purchased a new position in shares of AnaptysBio during the 3rd quarter valued at approximately $49,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of AnaptysBio by 81.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 2,600 shares during the period.

AnaptysBio Company Profile

(Get Free Report)

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.

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