AnaptysBio (NASDAQ:ANAB) Price Target Cut to $36.00 by Analysts at JPMorgan Chase & Co.

AnaptysBio (NASDAQ:ANAB) had its target price cut by JPMorgan Chase & Co. from $66.00 to $36.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

A number of other equities research analysts have also commented on ANAB. HC Wainwright lowered shares of AnaptysBio from a “buy” rating to a “neutral” rating and lowered their price target for the company from $52.00 to $19.00 in a report on Wednesday, December 11th. Wedbush reiterated an “outperform” rating and set a $40.00 target price (down from $42.00) on shares of AnaptysBio in a report on Wednesday, December 11th. Truist Financial cut their target price on AnaptysBio from $30.00 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday. Guggenheim lowered their price target on AnaptysBio from $90.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, UBS Group lifted their price objective on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, AnaptysBio currently has a consensus rating of “Moderate Buy” and an average target price of $41.45.

AnaptysBio Stock Down 2.2 %

AnaptysBio stock opened at $15.00 on Thursday. The firm has a fifty day simple moving average of $24.25 and a two-hundred day simple moving average of $29.21. AnaptysBio has a twelve month low of $14.20 and a twelve month high of $41.31. The company has a market capitalization of $456.44 million, a PE ratio of -2.47 and a beta of -0.11.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.72) by $0.58. The company had revenue of $30.02 million during the quarter, compared to analyst estimates of $7.92 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. As a group, equities analysts expect that AnaptysBio will post -6.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul F. Lizzul sold 1,500 shares of AnaptysBio stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.67, for a total transaction of $58,005.00. Following the completion of the transaction, the insider now directly owns 15,398 shares of the company’s stock, valued at $595,440.66. This trade represents a 8.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 33.70% of the stock is owned by insiders.

Hedge Funds Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its position in shares of AnaptysBio by 117.4% in the 3rd quarter. Barclays PLC now owns 44,300 shares of the biotechnology company’s stock worth $1,486,000 after purchasing an additional 23,926 shares in the last quarter. Geode Capital Management LLC raised its stake in AnaptysBio by 3.0% during the third quarter. Geode Capital Management LLC now owns 465,401 shares of the biotechnology company’s stock valued at $15,594,000 after buying an additional 13,336 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in AnaptysBio by 2.0% in the third quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company’s stock worth $74,008,000 after acquiring an additional 43,598 shares in the last quarter. XTX Topco Ltd boosted its holdings in AnaptysBio by 49.1% in the third quarter. XTX Topco Ltd now owns 20,286 shares of the biotechnology company’s stock worth $680,000 after acquiring an additional 6,683 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of AnaptysBio by 4.8% in the third quarter. Wellington Management Group LLP now owns 65,939 shares of the biotechnology company’s stock worth $2,209,000 after acquiring an additional 3,048 shares during the last quarter.

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.