Wedbush Reiterates Outperform Rating for AnaptysBio (NASDAQ:ANAB)

AnaptysBio (NASDAQ:ANAB - Get Free Report)'s stock had its "outperform" rating reaffirmed by Wedbush in a research note issued on Wednesday,RTT News reports. They presently have a $40.00 target price on the biotechnology company's stock. Wedbush's price objective suggests a potential upside of 88.50% from the stock's current price.

ANAB has been the subject of several other reports. Wells Fargo & Company reduced their price objective on AnaptysBio from $56.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, December 12th. Guggenheim reduced their price objective on AnaptysBio from $90.00 to $36.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. BTIG Research lowered AnaptysBio from a "buy" rating to a "neutral" rating in a research note on Monday, December 2nd. HC Wainwright reiterated a "neutral" rating and issued a $19.00 price target on shares of AnaptysBio in a research note on Tuesday, February 4th. Finally, Truist Financial cut their price target on AnaptysBio from $30.00 to $20.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, AnaptysBio has an average rating of "Moderate Buy" and a consensus target price of $41.00.

AnaptysBio Trading Up 10.0 %

Shares of NASDAQ:ANAB traded up $1.93 during midday trading on Wednesday, hitting $21.22. The company had a trading volume of 1,404,354 shares, compared to its average volume of 685,341. AnaptysBio has a 12-month low of $12.21 and a 12-month high of $41.31. The company has a fifty day moving average of $15.75 and a two-hundred day moving average of $25.69.

Insider Activity

In other news, Director Ecor1 Capital, Llc acquired 6,646 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was purchased 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 directly owns 7,880,094 shares in the company, valued at approximately $102,047,217.30. This trade represents 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. Company insiders own 33.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. lifted its holdings in shares of AnaptysBio by 2.0% in 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 acquiring an additional 43,598 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of AnaptysBio by 202.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 54,200 shares of the biotechnology company's stock valued at $1,816,000 after acquiring an additional 36,300 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of AnaptysBio by 191.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company's stock valued at $1,130,000 after acquiring an additional 22,164 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of 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 acquiring an additional 206,750 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of AnaptysBio by 55.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company's stock valued at $15,927,000 after acquiring an additional 168,813 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.