AnaptysBio (NASDAQ:ANAB) Coverage Initiated at HC Wainwright

HC Wainwright began coverage on shares of AnaptysBio (NASDAQ:ANAB) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $55.00 price target on the biotechnology company’s stock. HC Wainwright’s price target would suggest a potential upside of 48.81% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company assumed coverage on shares of AnaptysBio in a research report on Thursday, April 11th. They issued an “overweight” rating and a $56.00 price objective for the company. SVB Leerink assumed coverage on AnaptysBio in a research note on Tuesday, April 16th. They set an “outperform” rating and a $47.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $34.00 price objective on shares of AnaptysBio in a research report on Friday, May 10th. JPMorgan Chase & Co. upgraded shares of AnaptysBio from a “neutral” rating to an “overweight” rating and upped their target price for the company from $29.00 to $69.00 in a research report on Friday, July 19th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of AnaptysBio in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.89.

AnaptysBio Stock Performance

Shares of ANAB stock opened at $36.96 on Monday. AnaptysBio has a 52 week low of $13.36 and a 52 week high of $37.29. The stock has a market capitalization of $1.01 billion, a PE ratio of -6.02 and a beta of -0.25. The stock’s fifty day moving average is $25.97 and its 200-day moving average is $24.27.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.10). The company had revenue of $7.18 million for the quarter, compared to the consensus estimate of $4.55 million. AnaptysBio had a negative return on equity of 161.40% and a negative net margin of 711.17%. As a group, analysts forecast that AnaptysBio will post -6.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Paul F. Lizzul sold 1,500 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $35.00, for a total value of $52,500.00. Following the completion of the sale, the insider now owns 11,618 shares in the company, valued at approximately $406,630. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Paul F. Lizzul sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $35.00, for a total value of $52,500.00. Following the completion of the transaction, the insider now directly owns 11,618 shares in the company, valued at approximately $406,630. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis M. Fenton sold 1,950 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $23.17, for a total transaction of $45,181.50. Following the sale, the director now owns 1,950 shares in the company, valued at $45,181.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,900 shares of company stock worth $484,824. Company insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

A number of large investors have recently added to or reduced their stakes in ANAB. Allspring Global Investments Holdings LLC acquired a new position in shares of AnaptysBio during the first quarter worth about $38,000. China Universal Asset Management Co. Ltd. boosted its position 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 acquiring an additional 2,390 shares during the last quarter. Quest Partners LLC bought a new position in shares of AnaptysBio during the 4th quarter worth approximately $119,000. SG Americas Securities LLC acquired a new stake in shares of AnaptysBio in the fourth quarter valued at approximately $126,000. Finally, Virtu Financial LLC bought a new stake in shares of AnaptysBio in the first quarter worth $222,000.

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.