HC Wainwright Cuts AnaptysBio (NASDAQ:ANAB) Price Target to $52.00

AnaptysBio (NASDAQ:ANAB) had its price target cut by stock analysts at HC Wainwright from $55.00 to $52.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 131.11% from the company’s current price.

Several other brokerages have also recently weighed in on ANAB. UBS Group raised their price target 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. JPMorgan Chase & Co. lifted their target price on AnaptysBio from $69.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Wedbush reiterated an “outperform” rating and set a $42.00 price target on shares of AnaptysBio in a report on Wednesday. Truist Financial upped their target price 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. Finally, Guggenheim increased their target price on shares of AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.45.

AnaptysBio Stock Performance

Shares of NASDAQ ANAB traded up $2.62 during midday trading on Wednesday, hitting $22.50. 310,324 shares of the stock traded hands, compared to its average volume of 345,395. AnaptysBio has a one year low of $13.36 and a one year high of $41.31. The business has a 50 day moving average price of $33.59 and a two-hundred day moving average price of $29.94. The company has a market cap of $617.27 million, a PE ratio of -3.54 and a beta of -0.24.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly 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 558.25% and a negative return on equity of 255.68%. The business had revenue of $30.02 million during the quarter, compared to analyst estimates of $7.92 million. As a group, equities research analysts forecast that AnaptysBio will post -6.84 EPS for the current fiscal year.

Insider Activity

In related news, CFO Dennis Mulroy sold 12,220 shares of AnaptysBio stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $39.91, for a total value of $487,700.20. Following the sale, the chief financial officer now owns 4,744 shares of the company’s stock, valued at approximately $189,333.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AnaptysBio news, major shareholder Ecor1 Capital, Llc bought 273,972 shares of AnaptysBio stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $36.50 per share, for a total transaction of $9,999,978.00. Following the completion of the purchase, the insider now directly owns 7,794,996 shares of the company’s stock, valued at approximately $284,517,354. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dennis Mulroy sold 12,220 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $39.91, for a total transaction of $487,700.20. Following the completion of the transaction, 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,440 shares of company stock valued at $892,936 in the last three months. Company insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. grew its position in shares of AnaptysBio by 140.7% in the second quarter. Frazier Life Sciences Management L.P. now owns 2,165,591 shares of the biotechnology company’s stock valued at $54,270,000 after purchasing an additional 1,265,891 shares in the last quarter. StemPoint Capital LP increased its position in shares of AnaptysBio by 499.0% during the first quarter. StemPoint Capital LP now owns 269,548 shares of the biotechnology company’s stock valued at $6,070,000 after buying an additional 224,548 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of AnaptysBio by 677.9% in the third quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company’s stock worth $7,948,000 after buying an additional 206,750 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of AnaptysBio by 55.1% in the third quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after buying an additional 168,813 shares in the last quarter. Finally, Platinum Investment Management Ltd. bought a new position in shares of AnaptysBio in the first quarter valued at approximately $1,490,000.

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.