Wedbush Reaffirms Outperform Rating for AnaptysBio (NASDAQ:ANAB)

AnaptysBio (NASDAQ:ANAB - Get Free Report)'s stock had its "outperform" rating reiterated by research analysts at Wedbush in a report released on Wednesday,RTT News reports. They currently have a $40.00 price target on the biotechnology company's stock. Wedbush's price target points to a potential upside of 88.50% from the company's current price.

A number of other research analysts also recently commented on the company. Wolfe Research started coverage on AnaptysBio in a report on Tuesday, February 4th. They issued an "outperform" rating and a $25.00 price target for the company. UBS Group increased their target price on AnaptysBio from $23.00 to $33.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price target on shares of AnaptysBio from $66.00 to $36.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Guggenheim reduced their price objective on shares of AnaptysBio from $90.00 to $36.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. Finally, BTIG Research lowered shares of AnaptysBio from a "buy" rating to a "neutral" rating in a research note on Monday, December 2nd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

AnaptysBio Price Performance

NASDAQ ANAB traded up $1.93 on Wednesday, reaching $21.22. The company had a trading volume of 1,404,354 shares, compared to its average volume of 685,341. The firm has a 50-day moving average of $15.75 and a 200-day moving average of $25.63. The firm has a market capitalization of $645.72 million and a PE ratio of -3.49. AnaptysBio has a 1 year low of $12.21 and a 1 year high of $41.31.

Insider Activity

In related news, Director Ecor1 Capital, Llc acquired 65,184 shares of AnaptysBio stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $12.92 per share, with a total value of $842,177.28. Following the completion of the acquisition, the director now directly owns 7,860,180 shares of the company's stock, valued at $101,553,525.60. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 33.70% of the company's stock.

Hedge Funds Weigh In On AnaptysBio

Several large investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of AnaptysBio by 15.3% in the third quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company's stock valued at $110,857,000 after acquiring an additional 438,557 shares in the last quarter. Frazier Life Sciences Management L.P. increased its position in shares of AnaptysBio by 2.0% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company's stock valued at $74,008,000 after purchasing an additional 43,598 shares during the period. Vanguard Group Inc. increased its position in shares of AnaptysBio by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company's stock valued at $24,411,000 after purchasing an additional 143,584 shares during the period. Boxer Capital Management LLC bought a new stake in shares of AnaptysBio in the 4th quarter worth $17,212,000. Finally, Geode Capital Management LLC lifted its holdings in shares of AnaptysBio by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 486,597 shares of the biotechnology company's stock valued at $6,444,000 after buying an additional 21,196 shares during the period.

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.