AnaptysBio (NASDAQ:ANAB) Given New $20.00 Price Target at Truist Financial

AnaptysBio (NASDAQ:ANAB) had its price objective cut by Truist Financial from $30.00 to $20.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a hold rating on the biotechnology company’s stock.

A number of other equities analysts have also issued reports on ANAB. BTIG Research lowered AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday, December 2nd. UBS Group upped their price target on shares of AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. HC Wainwright downgraded shares of AnaptysBio from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $52.00 to $19.00 in a research note on Wednesday, December 11th. Guggenheim dropped their target price on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $40.00 price target (down previously from $42.00) on shares of AnaptysBio in a research report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.45.

AnaptysBio Price Performance

AnaptysBio stock opened at $14.55 on Wednesday. AnaptysBio has a 12-month low of $14.19 and a 12-month high of $41.31. The company has a market capitalization of $442.74 million, a price-to-earnings ratio of -2.39 and a beta of -0.11. The firm’s fifty day moving average price is $23.87 and its 200 day moving average price is $29.15.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (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 business had revenue of $30.02 million for the quarter, compared to analyst estimates of $7.92 million. Analysts forecast that AnaptysBio will post -6.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AnaptysBio news, insider Paul F. Lizzul sold 1,500 shares of the 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 sale, the insider now directly owns 15,398 shares of the company’s stock, valued at $595,440.66. This trade represents a 8.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 33.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AnaptysBio

Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in AnaptysBio by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 74,510 shares of the biotechnology company’s stock valued at $1,867,000 after purchasing an additional 10,423 shares during the last quarter. Rhumbline Advisers increased its stake in shares of AnaptysBio by 1.8% in the second 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. TD Asset Management Inc raised its holdings in shares of AnaptysBio by 67.3% during the second quarter. TD Asset Management Inc now owns 37,800 shares of the biotechnology company’s stock valued at $947,000 after buying an additional 15,200 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of AnaptysBio by 444.8% during the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock worth $89,000 after buying an additional 2,900 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in AnaptysBio by 52.4% in the 2nd quarter. Renaissance Technologies LLC now owns 152,702 shares of the biotechnology company’s stock worth $3,827,000 after buying an additional 52,502 shares in 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.