AnaptysBio (NASDAQ:ANAB) Raised to “Hold” at Truist Financial

AnaptysBio (NASDAQ:ANAB) was upgraded by equities research analysts at Truist Financial to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts have also recently issued reports on the company. HC Wainwright increased their target price on AnaptysBio from $51.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Stifel Nicolaus upped their price target on shares of AnaptysBio from $56.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Barclays increased their price objective on shares of AnaptysBio from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Wall Street Zen lowered shares of AnaptysBio from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Finally, UBS Group boosted their price objective on shares of AnaptysBio from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AnaptysBio currently has a consensus rating of “Moderate Buy” and an average target price of $78.44.

AnaptysBio Trading Up 3.8%

NASDAQ:ANAB opened at $65.39 on Wednesday. AnaptysBio has a 1 year low of $15.40 and a 1 year high of $68.39. The stock has a 50-day moving average price of $54.69 and a two-hundred day moving average price of $43.09. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -125.75 and a beta of 0.32.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.69. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%.The company had revenue of $108.25 million for the quarter, compared to analyst estimates of $87.09 million. Sell-side analysts forecast that AnaptysBio will post -6.08 earnings per share for the current year.

Insider Activity

In other news, CEO Daniel Faga sold 15,309 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $43.26, for a total transaction of $662,267.34. Following the completion of the transaction, the chief executive officer directly owned 458,139 shares of the company’s stock, valued at $19,819,093.14. This trade represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dennis Mulroy sold 3,363 shares of AnaptysBio stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $43.26, for a total transaction of $145,483.38. Following the completion of the sale, the chief financial officer owned 14,330 shares in the company, valued at $619,915.80. This trade represents a 19.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 92,514 shares of company stock worth $4,243,935. 33.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its stake in shares of AnaptysBio by 2,236.6% during the 3rd quarter. Federated Hermes Inc. now owns 193,327 shares of the biotechnology company’s stock worth $5,920,000 after buying an additional 185,053 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of AnaptysBio in the second quarter valued at about $741,000. Assenagon Asset Management S.A. raised its holdings in AnaptysBio by 4,852.7% during the third quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock worth $25,719,000 after acquiring an additional 822,975 shares in the last quarter. 683 Capital Management LLC raised its holdings in AnaptysBio by 155.6% during the second quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock worth $11,100,000 after acquiring an additional 304,373 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in AnaptysBio by 333.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 145,191 shares of the biotechnology company’s stock valued at $4,446,000 after purchasing an additional 111,668 shares during the last quarter.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.