AnaptysBio (NASDAQ:ANAB) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of AnaptysBio (NASDAQ:ANAB) from a buy rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

Several other analysts have also weighed in on the stock. Scotiabank lowered shares of AnaptysBio to a “hold” rating and set a $70.00 price objective for the company. in a report on Tuesday, August 25th. HC Wainwright reissued a “buy” rating and issued a $95.00 target price on shares of AnaptysBio in a report on Tuesday, September 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of AnaptysBio in a research report on Friday, August 7th. JPMorgan Chase & Co. decreased their price target on AnaptysBio from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 30th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $78.00 price target on shares of AnaptysBio in a report on Monday, August 31st. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.79.

AnaptysBio Stock Performance

Shares of NASDAQ:ANAB opened at $48.53 on Friday. AnaptysBio has a 52 week low of $19.65 and a 52 week high of $72.36. The company’s fifty day moving average is $55.04 and its 200-day moving average is $58.58. The company has a market capitalization of $1.45 billion, a PE ratio of 9.04 and a beta of 0.76.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Monday, September 21st. The biotechnology company reported $5.11 earnings per share for the quarter, topping the consensus estimate of ($0.46) by $5.57. AnaptysBio had a net margin of 82.37% and a return on equity of 112.00%. The business had revenue of $27.49 million for the quarter, compared to analyst estimates of $14.06 million. During the same quarter in the prior year, the firm earned ($1.30) EPS. On average, analysts forecast that AnaptysBio will post -1.3 EPS for the current year.

Insider Activity

In other news, Director Hollings Renton sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $49.87, for a total transaction of $249,350.00. Following the transaction, the director directly owned 10,995 shares in the company, valued at approximately $548,320.65. This represents a 31.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 31.50% of the company’s stock.

Institutional Trading of AnaptysBio

A number of hedge funds and other institutional investors have recently modified their holdings of ANAB. BlackRock Inc. acquired a new stake in shares of AnaptysBio in the 2nd quarter valued at $124,473,000. Palo Alto Investors LP bought a new stake in shares of AnaptysBio during the second quarter worth $40,735,508. Affinity Asset Advisors LLC lifted its stake in shares of AnaptysBio by 111.4% during the first quarter. Affinity Asset Advisors LLC now owns 940,000 shares of the biotechnology company’s stock valued at $52,132,000 after acquiring an additional 495,308 shares during the period. Bank of America Corp DE acquired a new position in shares of AnaptysBio during the second quarter valued at $28,202,000. Finally, Hsbc Holdings PLC bought a new position in AnaptysBio in the second quarter valued at about $14,928,000.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on developing antibody-based medicines for inflammatory and autoimmune diseases. The company uses its antibody discovery and engineering capabilities to identify therapies designed to modulate immune-system targets involved in disease.

AnaptysBio’s pipeline has included rosnilimab, an investigational antibody designed to target CD200R1, a receptor involved in regulating immune-cell activity. The company has evaluated rosnilimab in inflammatory and autoimmune conditions, including rheumatoid arthritis and ulcerative colitis.