AnaptysBio (NASDAQ:ANAB) Price Target Lowered to $20.00 at Truist Financial

AnaptysBio (NASDAQ:ANAB - Free Report) had its target price reduced by Truist Financial from $30.00 to $20.00 in a report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the biotechnology company's stock.

A number of other analysts have also recently commented on the company. HC Wainwright cut AnaptysBio from a "buy" rating to a "neutral" rating and cut their target price for the stock from $52.00 to $19.00 in a research report on Wednesday, December 11th. Wedbush restated an "outperform" rating and set a $40.00 price objective (down previously from $42.00) on shares of AnaptysBio in a research report on Wednesday, December 11th. UBS Group raised their price target on AnaptysBio from $23.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. BTIG Research downgraded shares of AnaptysBio from a "buy" rating to a "neutral" rating in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. decreased their target price on AnaptysBio from $75.00 to $66.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, AnaptysBio presently has an average rating of "Moderate Buy" and a consensus price target of $44.18.

AnaptysBio Stock Performance

ANAB stock traded down $0.65 during mid-day trading on Wednesday, reaching $15.34. The company had a trading volume of 499,252 shares, compared to its average volume of 384,449. The firm has a fifty day simple moving average of $24.59 and a 200 day simple moving average of $29.31. AnaptysBio has a fifty-two week low of $14.20 and a fifty-two week high of $41.31. The company has a market capitalization of $466.78 million, a price-to-earnings ratio of -2.52 and a beta of -0.11.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, beating 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 firm had revenue of $30.02 million for the quarter, compared to analyst estimates of $7.92 million. As a group, analysts predict that AnaptysBio will post -6.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Paul F. Lizzul sold 1,500 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $38.67, for a total value of $58,005.00. Following the completion of the sale, the insider now directly owns 15,398 shares in the company, valued at approximately $595,440.66. The trade was a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 33.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AnaptysBio

A number of hedge funds have recently made changes to their positions in ANAB. Values First Advisors Inc. purchased a new stake in AnaptysBio during the third quarter worth approximately $49,000. nVerses Capital LLC boosted its stake in AnaptysBio by 700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company's stock valued at $54,000 after acquiring an additional 1,400 shares during the last quarter. Headlands Technologies LLC grew its stake in AnaptysBio by 444.8% in the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company's stock worth $89,000 after purchasing an additional 2,900 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of AnaptysBio by 81.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company's stock worth $195,000 after buying an additional 2,600 shares during the last quarter. Finally, Point72 DIFC Ltd grew its position in shares of AnaptysBio by 680.5% during the 3rd quarter. Point72 DIFC Ltd now owns 6,127 shares of the biotechnology company's stock valued at $205,000 after buying an additional 5,342 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.