JPMorgan Chase & Co. Issues Pessimistic Forecast for AnaptysBio (NASDAQ:ANAB) Stock Price

AnaptysBio (NASDAQ:ANAB) had its target price trimmed by JPMorgan Chase & Co. from $75.00 to $66.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

Several other equities analysts have also recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of AnaptysBio in a research report on Wednesday, November 6th. Truist Financial increased their price target on AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, August 15th. UBS Group increased their price target on AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. HC Wainwright lowered their price target on AnaptysBio from $55.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Guggenheim increased their price target on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, AnaptysBio currently has an average rating of “Moderate Buy” and a consensus price target of $54.64.

AnaptysBio Stock Performance

ANAB stock opened at $20.17 on Tuesday. AnaptysBio has a fifty-two week low of $13.36 and a fifty-two week high of $41.31. The business’s 50 day moving average price is $31.73 and its two-hundred day moving average price is $29.96. The company has a market capitalization of $613.77 million, a price-to-earnings ratio of -3.32 and a beta of -0.24.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, topping analysts’ consensus estimates of ($1.72) by $0.58. The firm had revenue of $30.02 million for the quarter, compared to analysts’ expectations of $7.92 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. Sell-side analysts forecast that AnaptysBio will post -6.09 earnings per share for the current year.

Insider Transactions at AnaptysBio

In other AnaptysBio news, insider Eric J. Loumeau sold 8,720 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $39.82, for a total value of $347,230.40. Following the completion of the sale, the insider now owns 7,020 shares in the company, valued at approximately $279,536.40. This represents a 55.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Dennis Mulroy sold 12,220 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $39.91, for a total value of $487,700.20. Following the completion of the sale, the chief financial officer now owns 4,744 shares of the company’s stock, valued at $189,333.04. The trade was a 72.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,440 shares of company stock worth $892,936 in the last three months. Corporate insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors have recently bought and sold shares of ANAB. Allspring Global Investments Holdings LLC purchased a new stake in AnaptysBio in the 1st quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of AnaptysBio during the first quarter valued at about $265,000. Acadian Asset Management LLC purchased a new position in shares of AnaptysBio during the first quarter valued at about $420,000. Platinum Investment Management Ltd. purchased a new position in shares of AnaptysBio during the first quarter valued at about $1,490,000. Finally, StemPoint Capital LP grew its position in shares of AnaptysBio by 499.0% during the first quarter. StemPoint Capital LP now owns 269,548 shares of the biotechnology company’s stock valued at $6,070,000 after purchasing an additional 224,548 shares in 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.