AnaptysBio (NASDAQ:ANAB) Price Target Increased to $30.00 by Analysts at Truist Financial

AnaptysBio (NASDAQ:ANAB) had its price objective boosted by Truist Financial from $20.00 to $30.00 in a report published on Thursday morning, Benzinga reports. The firm currently has a hold rating on the biotechnology company’s stock.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of AnaptysBio from $69.00 to $75.00 and gave the stock an overweight rating in a research note on Wednesday, August 7th. Wedbush restated an outperform rating and set a $34.00 price target on shares of AnaptysBio in a report on Friday, May 10th. Finally, HC Wainwright reiterated a buy rating and issued a $55.00 price objective on shares of AnaptysBio in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $50.30.

AnaptysBio Stock Up 6.5 %

NASDAQ:ANAB traded up $2.12 on Thursday, hitting $34.57. The stock had a trading volume of 343,213 shares, compared to its average volume of 336,262. The company has a fifty day moving average price of $29.34 and a two-hundred day moving average price of $25.55. The stock has a market cap of $944.42 million, a price-to-earnings ratio of -5.64 and a beta of -0.25. AnaptysBio has a 1-year low of $13.36 and a 1-year high of $41.31.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.82). The business had revenue of $10.97 million for the quarter, compared to analyst estimates of $25.85 million. AnaptysBio had a negative return on equity of 161.40% and a negative net margin of 711.17%. As a group, analysts anticipate that AnaptysBio will post -6.32 earnings per share for the current year.

Insider Activity at AnaptysBio

In related news, CFO Dennis Mulroy sold 1,500 shares of AnaptysBio stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $23.72, for a total transaction of $35,580.00. Following the sale, the chief financial officer now directly owns 964 shares in the company, valued at approximately $22,866.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Dennis Mulroy sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $23.72, for a total transaction of $35,580.00. Following the transaction, the chief financial officer now owns 964 shares in the company, valued at approximately $22,866.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ecor1 Capital, Llc acquired 273,972 shares of AnaptysBio stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $36.50 per share, with a total value of $9,999,978.00. Following the purchase, the insider now owns 7,794,996 shares of the company’s stock, valued at approximately $284,517,354. The disclosure for this purchase can be found here. Insiders sold 16,900 shares of company stock valued at $484,824 over the last three months. 33.70% of the stock is owned by corporate insiders.

Institutional Trading of AnaptysBio

A number of hedge funds have recently added to or reduced their stakes in ANAB. Frazier Life Sciences Management L.P. lifted its stake in shares of AnaptysBio by 140.7% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,165,591 shares of the biotechnology company’s stock worth $54,270,000 after acquiring an additional 1,265,891 shares during the period. First Light Asset Management LLC raised its holdings in AnaptysBio by 56.4% during the fourth quarter. First Light Asset Management LLC now owns 1,237,178 shares of the biotechnology company’s stock worth $26,500,000 after purchasing an additional 446,372 shares in the last quarter. StemPoint Capital LP lifted its position in AnaptysBio by 499.0% in the first quarter. StemPoint Capital LP now owns 269,548 shares of the biotechnology company’s stock valued at $6,070,000 after purchasing an additional 224,548 shares during the period. Octagon Capital Advisors LP purchased a new stake in AnaptysBio in the 4th quarter valued at approximately $2,570,000. Finally, Assenagon Asset Management S.A. increased its position in AnaptysBio by 38.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 306,633 shares of the biotechnology company’s stock worth $7,684,000 after purchasing an additional 84,795 shares during the period.

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.