AnaptysBio (NASDAQ:ANAB) Receives New Coverage from Analysts at HC Wainwright

HC Wainwright started coverage on shares of AnaptysBio (NASDAQ:ANAB) in a research note published on Monday, Marketbeat.com reports. The firm issued a buy rating and a $55.00 price target on the biotechnology company’s stock. HC Wainwright also issued estimates for AnaptysBio’s Q2 2024 earnings at ($1.85) EPS, Q3 2024 earnings at ($1.98) EPS, Q4 2024 earnings at ($2.13) EPS, FY2024 earnings at ($7.60) EPS, FY2025 earnings at ($10.47) EPS, FY2026 earnings at ($5.66) EPS, FY2027 earnings at ($3.85) EPS and FY2028 earnings at ($3.00) EPS.

Several other research firms have also recently commented on ANAB. Leerink Partnrs reiterated an outperform rating on shares of AnaptysBio in a research note on Tuesday, April 16th. Wedbush restated an outperform rating and set a $34.00 price objective on shares of AnaptysBio in a report on Friday, May 10th. Wells Fargo & Company began coverage on AnaptysBio in a research note on Thursday, April 11th. They set an overweight rating and a $56.00 target price for the company. JPMorgan Chase & Co. upgraded shares of AnaptysBio from a neutral rating to an overweight rating and lifted their price target for the stock from $29.00 to $69.00 in a research note on Friday, July 19th. Finally, SVB Leerink initiated coverage on shares of AnaptysBio in a research note on Tuesday, April 16th. They set an outperform rating and a $47.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $51.89.

AnaptysBio Price Performance

Shares of NASDAQ ANAB opened at $36.90 on Monday. AnaptysBio has a 1-year low of $13.36 and a 1-year high of $37.50. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -6.01 and a beta of -0.25. The business has a 50-day moving average of $26.20 and a 200-day moving average of $24.36.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($1.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.10). AnaptysBio had a negative net margin of 711.17% and a negative return on equity of 161.40%. The firm had revenue of $7.18 million for the quarter, compared to analyst estimates of $4.55 million. Research analysts expect that AnaptysBio will post -6.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Dennis Mulroy sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $23.72, for a total transaction of $35,580.00. Following the completion of the transaction, the chief financial officer now directly owns 964 shares of the company’s stock, valued at $22,866.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AnaptysBio news, CFO Dennis Mulroy sold 1,500 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $23.72, for a total value of $35,580.00. Following the sale, the chief financial officer now directly owns 964 shares in the company, valued at $22,866.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hollings Renton sold 10,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $30.64, for a total transaction of $306,400.00. Following the transaction, the director now directly owns 1,950 shares of the company’s stock, valued at approximately $59,748. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,900 shares of company stock valued at $484,824. Company insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

A number of hedge funds have recently made changes to their positions in ANAB. Allspring Global Investments Holdings LLC acquired a new stake in shares of AnaptysBio in the 1st quarter worth approximately $38,000. China Universal Asset Management Co. Ltd. boosted its stake in AnaptysBio by 350.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,072 shares of the biotechnology company’s stock valued at $66,000 after purchasing an additional 2,390 shares in the last quarter. Quest Partners LLC acquired a new position in shares of AnaptysBio during the 4th quarter valued at $119,000. SG Americas Securities LLC bought a new stake in shares of AnaptysBio in the 4th quarter worth $126,000. Finally, Virtu Financial LLC bought a new stake in shares of AnaptysBio in the 1st quarter worth $222,000.

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.