SVB Leerink Initiates Coverage on AnaptysBio (NASDAQ:ANAB)

SVB Leerink initiated coverage on shares of AnaptysBio (NASDAQ:ANAB) in a research report report published on Tuesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $47.00 target price on the biotechnology company’s stock.

Several other analysts also recently weighed in on the company. Wedbush upgraded AnaptysBio from a neutral rating to an outperform rating and lifted their target price for the stock from $20.00 to $34.00 in a research report on Tuesday, March 12th. Stifel Nicolaus assumed coverage on AnaptysBio in a research report on Wednesday, February 21st. They set a buy rating and a $50.00 target price for the company. Wells Fargo & Company assumed coverage on AnaptysBio in a research report on Thursday, April 11th. They set an overweight rating and a $56.00 target price for the company. JPMorgan Chase & Co. decreased their target price on AnaptysBio from $30.00 to $28.00 and set a neutral rating for the company in a research report on Monday, April 1st. Finally, BTIG Research assumed coverage on AnaptysBio in a research report on Monday, February 26th. They set a buy rating and a $55.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $46.22.

AnaptysBio Stock Down 7.6 %

NASDAQ ANAB opened at $19.83 on Tuesday. The company has a fifty day moving average of $23.31 and a two-hundred day moving average of $20.54. The firm has a market capitalization of $530.65 million, a price-to-earnings ratio of -3.26 and a beta of -0.30. AnaptysBio has a 52 week low of $13.36 and a 52 week high of $27.50.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Monday, March 11th. The biotechnology company reported ($1.59) EPS for the quarter, topping the consensus estimate of ($1.74) by $0.15. The company had revenue of $9.01 million during the quarter, compared to analyst estimates of $3.28 million. AnaptysBio had a negative net margin of 953.66% and a negative return on equity of 119.42%. Equities research analysts anticipate that AnaptysBio will post -6.25 EPS for the current year.

Insider Activity at AnaptysBio

In other AnaptysBio news, CEO Daniel Faga sold 145,940 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $22.78, for a total value of $3,324,513.20. Following the completion of the transaction, the chief executive officer now directly owns 752,087 shares in the company, valued at $17,132,541.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AnaptysBio news, CEO Daniel Faga sold 145,940 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $22.78, for a total value of $3,324,513.20. Following the completion of the transaction, the chief executive officer now directly owns 752,087 shares in the company, valued at $17,132,541.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dennis Mulroy sold 3,065 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $23.63, for a total transaction of $72,425.95. Following the completion of the transaction, the chief financial officer now owns 964 shares of the company’s stock, valued at $22,779.32. The disclosure for this sale can be found here. Insiders sold 157,005 shares of company stock worth $3,586,199 over the last three months. 35.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds have recently modified their holdings of ANAB. Swiss National Bank increased its holdings in shares of AnaptysBio by 7.9% during the first quarter. Swiss National Bank now owns 42,300 shares of the biotechnology company’s stock valued at $1,047,000 after acquiring an additional 3,100 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of AnaptysBio by 57.0% during the first quarter. MetLife Investment Management LLC now owns 11,043 shares of the biotechnology company’s stock valued at $273,000 after acquiring an additional 4,009 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of AnaptysBio by 11.0% during the first quarter. Dimensional Fund Advisors LP now owns 891,851 shares of the biotechnology company’s stock valued at $22,064,000 after acquiring an additional 88,457 shares in the last quarter. Ergoteles LLC acquired a new position in shares of AnaptysBio during the first quarter valued at about $479,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of AnaptysBio by 4.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 142,131 shares of the biotechnology company’s stock valued at $3,517,000 after acquiring an additional 5,819 shares in the last quarter.

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.