AnaptysBio (NASDAQ:ANAB) Shares Gap Up on Analyst Upgrade

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) gapped up before the market opened on Tuesday after HC Wainwright raised their price target on the stock from $38.00 to $59.00. The stock had previously closed at $23.27, but opened at $25.66. HC Wainwright currently has a buy rating on the stock. AnaptysBio shares last traded at $30.58, with a volume of 247,186 shares.

A number of other research firms also recently weighed in on ANAB. UBS Group reissued a “neutral” rating and issued a $20.00 price target (up previously from $18.00) on shares of AnaptysBio in a research note on Tuesday, August 12th. JPMorgan Chase & Co. increased their target price on AnaptysBio from $42.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Wedbush restated an “outperform” rating and set a $45.00 target price on shares of AnaptysBio in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.75.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. First Light Asset Management LLC boosted its position in AnaptysBio by 433.3% in the first quarter. First Light Asset Management LLC now owns 4,633,602 shares of the biotechnology company’s stock worth $86,139,000 after purchasing an additional 3,764,720 shares during the last quarter. Palo Alto Investors LP increased its holdings in AnaptysBio by 20.9% during the first quarter. Palo Alto Investors LP now owns 1,020,713 shares of the biotechnology company’s stock worth $18,975,000 after buying an additional 176,742 shares during the last quarter. Woodline Partners LP raised its position in AnaptysBio by 63.1% in the first 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 during the period. 683 Capital Management LLC increased 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 purchasing an additional 304,373 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of AnaptysBio by 21.5% during the 1st quarter. Victory Capital Management Inc. now owns 406,430 shares of the biotechnology company’s stock worth $7,556,000 after purchasing an additional 71,980 shares during the last quarter.

AnaptysBio Trading Up 31.6%

The business’s fifty day moving average is $22.15 and its 200 day moving average is $21.56. The company has a market cap of $857.27 million, a P/E ratio of -6.83 and a beta of -0.19.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.50) by $0.16. AnaptysBio had a negative return on equity of 366.98% and a negative net margin of 107.66%.The company had revenue of $22.26 million for the quarter, compared to analyst estimates of $11.55 million. As a group, research analysts expect 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.