AnaptysBio (NASDAQ:ANAB) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of AnaptysBio (NASDAQ:ANAB) in a research note issued to investors on Thursday morning, MarketBeat.com reports. The firm issued an overweight rating and a $56.00 price target on the biotechnology company’s stock.

ANAB has been the subject of several other research reports. Stifel Nicolaus started coverage on shares of AnaptysBio in a research note on Wednesday, February 21st. They issued a buy rating and a $50.00 target price for the company. BTIG Research began coverage on shares of AnaptysBio in a report on Monday, February 26th. They issued a buy rating and a $55.00 price target for the company. JPMorgan Chase & Co. cut their price target on shares of AnaptysBio from $30.00 to $28.00 and set a neutral rating for the company in a report on Monday, April 1st. Wedbush upgraded shares of AnaptysBio from a neutral rating to an outperform rating and increased their price target for the company from $20.00 to $34.00 in a report on Tuesday, March 12th. Finally, Piper Sandler began coverage on shares of AnaptysBio in a report on Friday, February 16th. They issued an overweight rating and a $80.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AnaptysBio has a consensus rating of Moderate Buy and a consensus target price of $46.13.

AnaptysBio Stock Performance

ANAB stock opened at $24.73 on Thursday. AnaptysBio has a one year low of $13.36 and a one year high of $27.50. The stock has a market capitalization of $661.85 million, a PE ratio of -4.07 and a beta of -0.30. The company has a fifty day moving average of $23.56 and a 200-day moving average of $20.43.

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

Insider Buying and Selling at AnaptysBio

In other AnaptysBio news, insider Eric J. Loumeau sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the transaction, the insider now directly owns 3,240 shares in the company, valued at approximately $81,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Daniel Faga sold 145,940 shares of AnaptysBio stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $22.78, for a total transaction of $3,324,513.20. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this link. Also, insider Eric J. Loumeau sold 5,000 shares of AnaptysBio stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the insider now owns 3,240 shares of the company’s stock, valued at $81,000. The disclosure for this sale can be found here. In the last three months, insiders sold 157,005 shares of company stock worth $3,586,199. 35.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

Hedge funds and other institutional investors have recently modified their holdings of the company. Fisher Asset Management LLC boosted its position in shares of AnaptysBio by 0.7% in the fourth quarter. Fisher Asset Management LLC now owns 71,154 shares of the biotechnology company’s stock worth $1,524,000 after acquiring an additional 500 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of AnaptysBio by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 231,754 shares of the biotechnology company’s stock worth $4,965,000 after acquiring an additional 5,472 shares during the last quarter. Palo Alto Investors LP boosted its position in shares of AnaptysBio by 59.3% in the fourth quarter. Palo Alto Investors LP now owns 686,882 shares of the biotechnology company’s stock worth $14,713,000 after acquiring an additional 255,658 shares during the last quarter. Octagon Capital Advisors LP acquired a new stake in shares of AnaptysBio in the fourth quarter worth approximately $2,570,000. Finally, Great Point Partners LLC boosted its position in shares of AnaptysBio by 9.2% in the fourth quarter. Great Point Partners LLC now owns 976,981 shares of the biotechnology company’s stock worth $20,927,000 after acquiring an additional 82,648 shares during 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.