AnaptysBio (NASDAQ:ANAB) Earns Outperform Rating from Wedbush

AnaptysBio (NASDAQ:ANAB)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a report issued on Friday, Benzinga reports. They presently have a $34.00 price target on the biotechnology company’s stock. Wedbush’s target price suggests a potential upside of 39.92% from the stock’s previous close.

A number of other equities research analysts have also weighed in on ANAB. Stifel Nicolaus started coverage on shares of AnaptysBio in a research note on Wednesday, February 21st. They set a “buy” rating and a $50.00 target price for the company. Wells Fargo & Company started coverage on shares of AnaptysBio in a research note on Thursday, April 11th. They set an “overweight” rating and a $56.00 target price for the company. BTIG Research started coverage on shares of AnaptysBio in a research note on Monday, February 26th. They set a “buy” rating and a $55.00 target price for the company. SVB Leerink began coverage on shares of AnaptysBio in a research note on Tuesday, April 16th. They set an “outperform” rating and a $47.00 target price for the company. Finally, Leerink Partnrs reissued an “outperform” rating on shares of AnaptysBio in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.22.

AnaptysBio Stock Performance

Shares of NASDAQ ANAB traded down $1.93 during trading hours on Friday, hitting $24.30. The company’s stock had a trading volume of 114,734 shares, compared to its average volume of 331,071. The stock has a market cap of $663.85 million, a price-to-earnings ratio of -4.07 and a beta of -0.32. AnaptysBio has a 12 month low of $13.36 and a 12 month high of $27.50. The business has a 50-day simple moving average of $22.91 and a 200-day simple moving average of $20.99.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Monday, March 11th. The biotechnology company reported ($1.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.74) by $0.15. AnaptysBio had a negative net margin of 953.66% and a negative return on equity of 119.42%. The firm had revenue of $9.01 million during the quarter, compared to analyst estimates of $3.28 million. On average, equities research analysts forecast that AnaptysBio will post -6.17 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Daniel Faga sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $21.42, for a total value of $64,260.00. Following the sale, the chief executive officer now directly owns 749,087 shares of the company’s stock, valued at approximately $16,045,443.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Eric J. Loumeau sold 5,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the transaction, the insider now owns 3,240 shares in the company, valued at approximately $81,000. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Daniel Faga sold 3,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $21.42, for a total transaction of $64,260.00. Following the completion of the transaction, the chief executive officer now owns 749,087 shares of the company’s stock, valued at approximately $16,045,443.54. The disclosure for this sale can be found here. Insiders have sold 153,940 shares of company stock valued at $3,513,773 over the last ninety days. Company insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of AnaptysBio in the 1st quarter valued at $38,000. China Universal Asset Management Co. Ltd. boosted its stake in AnaptysBio by 350.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,072 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 2,390 shares during the period. Quest Partners LLC acquired a new stake in AnaptysBio during the 4th quarter worth $119,000. SG Americas Securities LLC acquired a new stake in AnaptysBio during the 4th quarter worth $126,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in AnaptysBio by 134.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,896 shares of the biotechnology company’s stock worth $106,000 after buying an additional 3,381 shares during 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.