SVB Leerink Initiates Coverage on AnaptysBio (NASDAQ:ANAB)

SVB Leerink began coverage on shares of AnaptysBio (NASDAQ:ANAB) in a research note published on Tuesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $47.00 price objective on the biotechnology company’s stock.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus began coverage on shares of AnaptysBio in a research note on Wednesday, February 21st. They issued a buy rating and a $50.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on AnaptysBio from $30.00 to $28.00 and set a neutral rating on the stock in a research report on Monday, April 1st. Wells Fargo & Company started coverage on AnaptysBio in a research note on Thursday, April 11th. They set an overweight rating and a $56.00 target price on the stock. Piper Sandler initiated coverage on AnaptysBio in a research note on Friday, February 16th. They issued an overweight rating and a $80.00 price target for the company. Finally, BTIG Research initiated coverage on AnaptysBio in a report on Monday, February 26th. They set a buy rating and a $55.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, AnaptysBio presently has a consensus rating of Moderate Buy and a consensus price target of $46.22.

AnaptysBio Price Performance

Shares of NASDAQ ANAB opened at $21.34 on Tuesday. The firm has a market capitalization of $571.06 million, a PE ratio of -3.51 and a beta of -0.30. AnaptysBio has a 1-year low of $13.36 and a 1-year high of $27.50. The business’s fifty day moving average price is $23.42 and its two-hundred day moving average price is $20.54.

AnaptysBio (NASDAQ:ANAB) last released its quarterly 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. The business 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 expect that AnaptysBio will post -6.25 earnings per share for the current fiscal year.

Insider Transactions at AnaptysBio

In related news, CEO Daniel Faga sold 145,940 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $22.78, for a total transaction of $3,324,513.20. Following the completion of the transaction, the chief executive officer now owns 752,087 shares of the company’s stock, valued at $17,132,541.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other AnaptysBio news, insider Eric J. Loumeau sold 5,000 shares of AnaptysBio stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the insider now owns 3,240 shares in the company, valued at $81,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Daniel Faga sold 145,940 shares of the company’s stock in a transaction on 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 approximately $17,132,541.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,005 shares of company stock valued at $3,586,199. Corporate insiders own 35.50% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Large investors have recently modified their holdings of the stock. Fisher Asset Management LLC lifted its holdings in shares of AnaptysBio by 0.7% during the fourth quarter. Fisher Asset Management LLC now owns 71,154 shares of the biotechnology company’s stock valued at $1,524,000 after purchasing an additional 500 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in AnaptysBio by 2.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 231,754 shares of the biotechnology company’s stock worth $4,965,000 after buying an additional 5,472 shares during the period. Palo Alto Investors LP raised its holdings in AnaptysBio by 59.3% during the 4th quarter. Palo Alto Investors LP now owns 686,882 shares of the biotechnology company’s stock worth $14,713,000 after buying an additional 255,658 shares during the period. Octagon Capital Advisors LP purchased a new stake in AnaptysBio during the fourth quarter valued at about $2,570,000. Finally, Great Point Partners LLC boosted its holdings 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 buying an additional 82,648 shares during the period.

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.