AnaptysBio (NASDAQ:ANAB) Trading Up 16.5% After Analyst Upgrade

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) traded up 16.5% during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $40.00 to $51.00. Wells Fargo & Company currently has an overweight rating on the stock. AnaptysBio traded as high as $18.82 and last traded at $18.81. 533,624 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 1,131,849 shares. The stock had previously closed at $16.15.

Several other research firms also recently commented on ANAB. HC Wainwright reiterated a "neutral" rating and set a $19.00 price objective on shares of AnaptysBio in a research note on Tuesday, February 4th. Truist Financial lowered their price objective on shares of AnaptysBio from $30.00 to $20.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. BTIG Research downgraded shares of AnaptysBio from a "buy" rating to a "neutral" rating in a research note on Monday, December 2nd. Wedbush reiterated an "outperform" rating and set a $40.00 price objective on shares of AnaptysBio in a research note on Wednesday, February 12th. Finally, Wolfe Research initiated coverage on shares of AnaptysBio in a research note on Tuesday, February 4th. They set an "outperform" rating and a $25.00 price objective for the company. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.45.

Insiders Place Their Bets

In other news, Director Ecor1 Capital, Llc acquired 6,646 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was acquired at an average price of $12.95 per share, for a total transaction of $86,065.70. Following the completion of the transaction, the director now owns 7,880,094 shares in the company, valued at approximately $102,047,217.30. The trade was a 0.08 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 33.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. nVerses Capital LLC increased its stake in shares of AnaptysBio by 700.0% during the third quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company's stock worth $54,000 after purchasing an additional 1,400 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of AnaptysBio by 55.1% during 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 in the last quarter. Values First Advisors Inc. purchased a new stake in shares of AnaptysBio during the third quarter worth about $49,000. China Universal Asset Management Co. Ltd. increased its stake in shares of AnaptysBio by 81.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company's stock worth $195,000 after purchasing an additional 2,600 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of AnaptysBio during the third quarter worth about $574,000.

AnaptysBio Price Performance

The firm has a market cap of $645.72 million and a PE ratio of -3.49. The business's 50 day moving average price is $15.75 and its 200 day moving average price is $25.63.

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.