AnaptysBio (NASDAQ:ANAB) Trading Up 11.9% After Analyst Upgrade

AnaptysBio, Inc. (NASDAQ:ANAB) shares traded up 11.9% on Thursday after Wells Fargo & Company raised their price target on the stock from $51.00 to $81.00. Wells Fargo & Company currently has an overweight rating on the stock. AnaptysBio traded as high as $39.81 and last traded at $40.2830. 359,730 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 699,851 shares. The stock had previously closed at $36.00.

ANAB has been the subject of several other research reports. HC Wainwright boosted their target price on shares of AnaptysBio from $38.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Stifel Nicolaus lifted their price target on shares of AnaptysBio from $55.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of AnaptysBio from $42.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, October 8th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $20.00 price target (up from $18.00) on shares of AnaptysBio in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Light Asset Management LLC grew its holdings in shares of AnaptysBio by 433.3% during the first quarter. First Light Asset Management LLC now owns 4,633,602 shares of the biotechnology company’s stock valued at $86,139,000 after buying an additional 3,764,720 shares in the last quarter. Palo Alto Investors LP grew its stake in AnaptysBio by 20.9% in the first quarter. Palo Alto Investors LP now owns 1,020,713 shares of the biotechnology company’s stock valued at $18,975,000 after purchasing an additional 176,742 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in AnaptysBio by 4,852.7% in the third quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock valued at $25,719,000 after purchasing an additional 822,975 shares in the last quarter. Woodline Partners LP boosted its stake in shares of AnaptysBio by 63.1% during the 1st quarter. Woodline Partners LP now owns 791,023 shares of the biotechnology company’s stock worth $14,705,000 after acquiring an additional 305,950 shares in the last quarter. Finally, 683 Capital Management LLC boosted its stake in shares of AnaptysBio by 155.6% during the 2nd 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.

AnaptysBio Stock Performance

The company has a market cap of $1.13 billion, a P/E ratio of -14.29 and a beta of 0.16. The firm has a 50 day moving average price of $28.07 and a 200-day moving average price of $24.45.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $1.58. AnaptysBio had a negative return on equity of 422.05% and a negative net margin of 49.94%.The company had revenue of $76.32 million during the quarter, compared to the consensus estimate of $15.83 million. On average, sell-side analysts forecast that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal 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.