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

AnaptysBio (NASDAQ:ANAB - Free Report) had its target price reduced by JPMorgan Chase & Co. from $75.00 to $66.00 in a research note issued to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biotechnology company's stock.

A number of other research analysts also recently commented on the company. 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 raised their price target on shares of AnaptysBio from $23.00 to $33.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Wedbush reiterated an "outperform" rating and set a $42.00 price objective on shares of AnaptysBio in a research note on Wednesday, November 6th. HC Wainwright cut their price objective on AnaptysBio from $55.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Finally, Guggenheim lifted their price target on shares of AnaptysBio from $75.00 to $90.00 and gave the company a "buy" rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, AnaptysBio currently has an average rating of "Moderate Buy" and a consensus price target of $54.64.

AnaptysBio Stock Down 4.0 %

Shares of AnaptysBio stock traded down $0.90 during trading hours on Tuesday, hitting $21.50. The company's stock had a trading volume of 479,769 shares, compared to its average volume of 349,414. The business has a fifty day moving average of $32.35 and a 200 day moving average of $30.02. The company has a market capitalization of $654.25 million, a PE ratio of -3.69 and a beta of -0.24. AnaptysBio has a 1-year low of $13.36 and a 1-year high of $41.31.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.72) by $0.58. The company had revenue of $30.02 million during the quarter, compared to the consensus estimate of $7.92 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. On average, sell-side analysts anticipate that AnaptysBio will post -6.18 earnings per share for the current fiscal year.

Insider Activity at AnaptysBio

In other AnaptysBio news, major shareholder Ecor1 Capital, Llc bought 273,972 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $36.50 per share, for a total transaction of $9,999,978.00. Following the acquisition, the insider now directly owns 7,794,996 shares of the company's stock, valued at $284,517,354. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other AnaptysBio news, CFO Dennis Mulroy sold 12,220 shares of the company's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $39.91, for a total value of $487,700.20. Following the transaction, the chief financial officer now directly owns 4,744 shares of the company's stock, valued at $189,333.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ecor1 Capital, Llc purchased 273,972 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $36.50 per share, with a total value of $9,999,978.00. Following the purchase, the insider now owns 7,794,996 shares in the company, valued at $284,517,354. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 22,440 shares of company stock valued at $892,936 over the last 90 days. 33.70% of the stock is currently owned by corporate insiders.

Institutional Trading of AnaptysBio

Several large investors have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. boosted its position in AnaptysBio by 140.7% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,165,591 shares of the biotechnology company's stock worth $54,270,000 after purchasing an additional 1,265,891 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of AnaptysBio by 55.1% in the third quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company's stock worth $15,927,000 after purchasing an additional 168,813 shares during the period. StemPoint Capital LP lifted its position in shares of AnaptysBio by 499.0% during the 1st quarter. StemPoint Capital LP now owns 269,548 shares of the biotechnology company's stock worth $6,070,000 after purchasing an additional 224,548 shares during the last quarter. Jennison Associates LLC bought a new stake in AnaptysBio during the 3rd quarter valued at approximately $8,874,000. Finally, Victory Capital Management Inc. grew its holdings in AnaptysBio by 677.9% in the 3rd quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company's stock valued at $7,948,000 after buying an additional 206,750 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.