AnaptysBio (NASDAQ:ANAB) Trading 8.9% Higher After Analyst Upgrade

AnaptysBio, Inc. (NASDAQ:ANAB) traded up 8.9% during mid-day trading on Wednesday after HC Wainwright raised their price target on the stock from $38.00 to $59.00. HC Wainwright currently has a buy rating on the stock. AnaptysBio traded as high as $32.83 and last traded at $33.36. 336,236 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 743,077 shares. The stock had previously closed at $30.62.

Other analysts have also issued research reports about the company. Wedbush reiterated an “outperform” rating and issued a $45.00 price target on shares of AnaptysBio in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on AnaptysBio from $42.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, UBS Group reiterated a “neutral” rating and issued a $20.00 price target (up previously from $18.00) on shares of AnaptysBio in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

Hedge Funds Weigh In On AnaptysBio

Large investors have recently made changes to their positions in the business. US Bancorp DE increased its position in shares of AnaptysBio by 126.5% during the first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 979 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of AnaptysBio by 9,778.9% in the 1st quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 1,858 shares during the period. Tower Research Capital LLC TRC increased its position in shares of AnaptysBio by 175.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 1,377 shares during the period. Osaic Holdings Inc. increased its position in shares of AnaptysBio by 11,630.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 2,326 shares during the period. Finally, GAMMA Investing LLC acquired a new position in shares of AnaptysBio in the 1st quarter valued at $113,000.

AnaptysBio Price Performance

The company has a market capitalization of $895.16 million, a PE ratio of -7.14 and a beta of -0.18. The firm’s fifty day simple moving average is $22.25 and its 200 day simple moving average is $21.63.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.50) by $0.16. AnaptysBio had a negative net margin of 107.66% and a negative return on equity of 366.98%. The company had revenue of $22.26 million for the quarter, compared to analyst estimates of $11.55 million. On average, equities research analysts anticipate that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

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.