AnaptysBio (NASDAQ:ANAB) Given New $51.00 Price Target at Wells Fargo & Company

AnaptysBio (NASDAQ:ANAB - Free Report) had its price objective boosted by Wells Fargo & Company from $40.00 to $51.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company's stock.

Several other brokerages have also issued reports on ANAB. BTIG Research lowered AnaptysBio from a "buy" rating to a "neutral" rating in a research report on Monday, December 2nd. HC Wainwright reissued a "neutral" rating and issued a $19.00 target price on shares of AnaptysBio in a research report on Tuesday, February 4th. Truist Financial decreased their target price on AnaptysBio from $30.00 to $20.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Guggenheim decreased their target price on AnaptysBio from $90.00 to $36.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Finally, Wedbush reissued an "outperform" rating and issued a $40.00 target price on shares of AnaptysBio in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.45.

AnaptysBio Price Performance

ANAB traded up $1.93 during midday trading on Thursday, reaching $21.22. 1,404,354 shares of the company's stock traded hands, compared to its average volume of 685,341. The firm has a fifty day moving average of $15.75 and a two-hundred day moving average of $25.63. The stock has a market capitalization of $645.72 million and a price-to-earnings ratio of -3.49. AnaptysBio has a 52 week low of $12.21 and a 52 week high of $41.31.

Insider Buying and Selling

In other AnaptysBio news, Director Ecor1 Capital, Llc bought 6,646 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were acquired at an average cost of $12.95 per share, for a total transaction of $86,065.70. Following the purchase, the director now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 33.70% of the stock is currently owned by company insiders.

Institutional Trading of AnaptysBio

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in AnaptysBio by 15.3% during the 3rd quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company's stock valued at $110,857,000 after purchasing an additional 438,557 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its stake in 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 last quarter. Vanguard Group Inc. boosted its stake in 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 last quarter. Fairmount Funds Management LLC purchased a new stake in AnaptysBio during the 4th quarter valued at $24,050,000. Finally, Boxer Capital Management LLC purchased a new stake in AnaptysBio during the 4th quarter valued at $17,212,000.

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.