Wells Fargo & Company Lowers AnaptysBio (NASDAQ:ANAB) Price Target to $40.00

AnaptysBio (NASDAQ:ANAB) had its price objective trimmed by Wells Fargo & Company from $56.00 to $40.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

Several other equities analysts have also weighed in on ANAB. JPMorgan Chase & Co. cut their target price on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. BTIG Research cut AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. Wedbush restated an “outperform” rating and issued a $40.00 price target (down from $42.00) on shares of AnaptysBio in a report on Wednesday. Truist Financial lifted their price objective on shares of AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Guggenheim reduced their price target on AnaptysBio from $90.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, AnaptysBio currently has an average rating of “Moderate Buy” and a consensus target price of $45.09.

AnaptysBio Trading Up 3.8 %

ANAB stock opened at $15.59 on Thursday. The firm has a market cap of $474.40 million, a P/E ratio of -2.56 and a beta of -0.11. AnaptysBio has a 1-year low of $14.20 and a 1-year high of $41.31. The business’s 50 day moving average is $25.56 and its 200-day moving average is $29.43.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.72) by $0.58. The company had revenue of $30.02 million for the quarter, compared to the consensus estimate 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 forecast that AnaptysBio will post -6.02 EPS for the current year.

Insiders Place Their Bets

In other AnaptysBio news, insider Paul F. Lizzul sold 1,500 shares of AnaptysBio stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.67, for a total value of $58,005.00. Following the sale, the insider now owns 15,398 shares of the company’s stock, valued at approximately $595,440.66. The trade was a 8.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dennis Mulroy sold 12,220 shares of AnaptysBio 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 sale, 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 72.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,440 shares of company stock worth $892,936. Company insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Values First Advisors Inc. purchased a new position in AnaptysBio during the 3rd quarter valued at about $49,000. nVerses Capital LLC lifted 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 worth $54,000 after acquiring an additional 1,400 shares during the last quarter. Headlands Technologies LLC lifted its position in AnaptysBio by 444.8% in the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock valued at $89,000 after purchasing an additional 2,900 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in 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 worth $195,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Point72 DIFC Ltd increased its holdings in AnaptysBio by 680.5% during the 3rd quarter. Point72 DIFC Ltd now owns 6,127 shares of the biotechnology company’s stock valued at $205,000 after purchasing an additional 5,342 shares during the period.

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.