AnaptysBio (NASDAQ:ANAB) Trading Up 8.9% on Analyst Upgrade

AnaptysBio, Inc. (NASDAQ:ANAB) shares were up 8.9% on Wednesday after HC Wainwright raised their price target on the stock from $38.00 to $59.00. HC Wainwright currently has a buy rating on the stock. AnaptysBio traded as high as $32.83 and last traded at $33.36. Approximately 336,236 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 743,077 shares. The stock had previously closed at $30.62.

A number of other research analysts have also weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $45.00 price objective on shares of AnaptysBio in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on AnaptysBio from $42.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, UBS Group reiterated a “neutral” rating and set a $20.00 price objective (up from $18.00) on shares of AnaptysBio in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, AnaptysBio currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

Institutional Trading of AnaptysBio

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE boosted its position in shares of AnaptysBio by 126.5% during the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 979 shares during the last quarter. Farther Finance Advisors LLC raised its stake in AnaptysBio by 9,778.9% in the first quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 1,858 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in AnaptysBio by 175.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,377 shares during the last quarter. Osaic Holdings Inc. grew its stake in AnaptysBio by 11,630.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after buying an additional 2,326 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in AnaptysBio in the 1st quarter worth approximately $113,000.

AnaptysBio Trading Down 2.0%

The stock’s fifty day moving average price is $22.34 and its 200 day moving average price is $21.74. The stock has a market cap of $877.52 million, a P/E ratio of -7.00 and a beta of -0.18.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Wednesday, August 6th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.50) by $0.16. AnaptysBio had a negative net margin of 107.66% and a negative return on equity of 366.98%. The company had revenue of $22.26 million during the quarter, compared to analyst estimates of $11.55 million. On average, analysts anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

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.