AnaptysBio (NASDAQ:ANAB) Given New $20.00 Price Target at Truist Financial

AnaptysBio (NASDAQ:ANAB) had its price objective reduced by Truist Financial from $30.00 to $20.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a hold rating on the biotechnology company’s stock.

Several other research firms also recently commented on ANAB. Wedbush restated an “outperform” rating and set a $40.00 price objective (down from $42.00) on shares of AnaptysBio in a report on Wednesday, December 11th. Wells Fargo & Company cut their price target on shares of AnaptysBio from $56.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. HC Wainwright cut AnaptysBio from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $52.00 to $19.00 in a research report on Wednesday, December 11th. Guggenheim dropped their price target on AnaptysBio from $90.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, UBS Group lifted their target price on shares of AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.18.

AnaptysBio Stock Performance

ANAB stock opened at $15.34 on Wednesday. AnaptysBio has a one year low of $14.20 and a one year high of $41.31. The company’s fifty day moving average price is $24.59 and its 200-day moving average price is $29.31. The company has a market capitalization of $466.78 million, a PE ratio of -2.52 and a beta of -0.11.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, topping the consensus estimate of ($1.72) by $0.58. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The company had revenue of $30.02 million for the quarter, compared to analysts’ expectations of $7.92 million. On average, research analysts predict that AnaptysBio will post -6.02 EPS for the current fiscal year.

Insider Activity

In other AnaptysBio news, insider Paul F. Lizzul sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $38.67, for a total value of $58,005.00. Following the sale, the insider now owns 15,398 shares in the company, valued at approximately $595,440.66. This represents a 8.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

Several large investors have recently made changes to their positions in the company. Barclays PLC increased its holdings in AnaptysBio by 117.4% in the third quarter. Barclays PLC now owns 44,300 shares of the biotechnology company’s stock valued at $1,486,000 after buying an additional 23,926 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of AnaptysBio by 3.0% in the third quarter. Geode Capital Management LLC now owns 465,401 shares of the biotechnology company’s stock worth $15,594,000 after acquiring an additional 13,336 shares during the last quarter. Frazier Life Sciences Management L.P. grew its holdings in shares of AnaptysBio by 2.0% during the third quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company’s stock worth $74,008,000 after buying an additional 43,598 shares in the last quarter. XTX Topco Ltd raised its holdings in AnaptysBio by 49.1% in the 3rd quarter. XTX Topco Ltd now owns 20,286 shares of the biotechnology company’s stock valued at $680,000 after acquiring an additional 6,683 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of AnaptysBio by 4.8% in the third quarter. Wellington Management Group LLP now owns 65,939 shares of the biotechnology company’s stock valued at $2,209,000 after purchasing an additional 3,048 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.