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

Wedbush restated their outperform rating on shares of AnaptysBio (NASDAQ:ANAB) in a report released on Thursday,RTT News reports. Wedbush currently has a $42.00 price target on the biotechnology company’s stock.

ANAB has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their price objective on shares of AnaptysBio from $75.00 to $66.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. UBS Group boosted their price objective on shares of AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Guggenheim raised their target price on shares of AnaptysBio from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, October 21st. HC Wainwright lowered their target price on AnaptysBio from $55.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Truist Financial raised their price target on AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.64.

AnaptysBio Stock Performance

Shares of ANAB stock opened at $19.00 on Thursday. The stock has a market capitalization of $578.17 million, a price-to-earnings ratio of -3.13 and a beta of -0.24. AnaptysBio has a one year low of $13.36 and a one year high of $41.31. The company’s 50-day simple moving average is $31.06 and its 200-day simple moving average is $29.87.

AnaptysBio (NASDAQ:ANAB) last released its 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 for the quarter, compared to the consensus estimate of $7.92 million. As a group, research analysts forecast that AnaptysBio will post -6.09 EPS for the current year.

Insider Buying and Selling at AnaptysBio

In related news, CFO Dennis Mulroy sold 12,220 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $39.91, for a total transaction of $487,700.20. Following the completion of the sale, the chief financial officer now directly owns 4,744 shares in the company, valued at approximately $189,333.04. This trade represents a 72.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric J. Loumeau sold 8,720 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $39.82, for a total value of $347,230.40. Following the completion of the transaction, the insider now directly owns 7,020 shares in the company, valued at $279,536.40. This represents a 55.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,440 shares of company stock valued at $892,936 in the last quarter. Corporate insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its position in shares of AnaptysBio by 1.8% in 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 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 valued at $255,000 after buying an additional 1,078 shares in the last quarter. nVerses Capital LLC boosted its holdings in shares of AnaptysBio by 700.0% in the third quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock worth $54,000 after buying an additional 1,400 shares during the period. Values First Advisors Inc. purchased a new position in shares of AnaptysBio in the third quarter worth approximately $49,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of AnaptysBio during the first quarter valued at approximately $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.