AnaptysBio (NASDAQ:ANAB) Upgraded to “Strong-Buy” at Wolfe Research

AnaptysBio (NASDAQ:ANAB) was upgraded by Wolfe Research to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts also recently weighed in on ANAB. UBS Group boosted their price target on AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Guggenheim cut their price target on AnaptysBio from $90.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, December 12th. JPMorgan Chase & Co. cut their price target on AnaptysBio from $66.00 to $36.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Truist Financial cut their price target on AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Finally, Wedbush restated an “outperform” rating and set a $40.00 price objective on shares of AnaptysBio in a report on Monday. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.08.

AnaptysBio Stock Performance

ANAB stock opened at $16.51 on Monday. AnaptysBio has a 1 year low of $12.51 and a 1 year high of $41.31. The stock’s 50 day moving average price is $17.23 and its 200 day moving average price is $26.89. The firm has a market cap of $502.40 million and a P/E ratio of -2.72.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, beating the consensus estimate of ($1.72) by $0.58. The company had revenue of $30.02 million during the quarter, compared to the consensus estimate of $7.92 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. On average, research analysts predict that AnaptysBio will post -6.08 earnings per share for the current year.

Insider Activity at AnaptysBio

In other news, Director Ecor1 Capital, Llc acquired 6,646 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was bought at an average cost of $12.95 per share, with a total value of $86,065.70. Following the transaction, the director now directly owns 7,880,094 shares in the company, valued at approximately $102,047,217.30. This represents a 0.08 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 33.70% of the stock is owned by insiders.

Hedge Funds Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANAB. The Manufacturers Life Insurance Company boosted its position in AnaptysBio by 49.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,312 shares of the biotechnology company’s stock valued at $634,000 after buying an additional 8,418 shares during the last quarter. 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 valued at $255,000 after buying an additional 1,078 shares during the last quarter. SG Americas Securities LLC purchased a new position in AnaptysBio in the 3rd quarter valued at about $405,000. nVerses Capital LLC lifted its position in shares of AnaptysBio by 700.0% during the third 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 last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of AnaptysBio by 55.1% during the third quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after purchasing an additional 168,813 shares during the last quarter.

AnaptysBio Company Profile

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.