AnaptysBio (NASDAQ:ANAB) Price Target Cut to $36.00 by Analysts at JPMorgan Chase & Co.

AnaptysBio (NASDAQ:ANAB) had its target price reduced by JPMorgan Chase & Co. from $66.00 to $36.00 in a research report report published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biotechnology company’s stock.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company reduced their target price on shares of AnaptysBio from $56.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Wedbush reissued an “outperform” rating and issued a $40.00 target price (down from $42.00) on shares of AnaptysBio in a research report on Wednesday, December 11th. Truist Financial lowered their target price on AnaptysBio from $30.00 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday. Guggenheim cut their price target on AnaptysBio from $90.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, UBS Group lifted their price objective on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.45.

AnaptysBio Stock Down 2.2 %

ANAB stock opened at $15.00 on Thursday. The business has a 50 day moving average of $24.25 and a 200-day moving average of $29.21. The firm has a market cap of $456.44 million, a PE ratio of -2.47 and a beta of -0.11. AnaptysBio has a 12-month low of $14.20 and a 12-month high of $41.31.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.72) by $0.58. The firm had revenue of $30.02 million during the quarter, compared to analyst estimates of $7.92 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. On average, research analysts expect that AnaptysBio will post -6.02 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Paul F. Lizzul sold 1,500 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.67, for a total transaction of $58,005.00. Following the completion of the transaction, the insider now directly owns 15,398 shares in the company, valued at $595,440.66. The trade was a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 33.70% of the stock is currently owned by insiders.

Institutional Trading of AnaptysBio

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in AnaptysBio by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 74,510 shares of the biotechnology company’s stock valued at $1,867,000 after purchasing an additional 10,423 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of AnaptysBio by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 29,715 shares of the biotechnology company’s stock worth $745,000 after acquiring an additional 525 shares during the last quarter. TD Asset Management Inc grew its position in AnaptysBio by 67.3% in the second quarter. TD Asset Management Inc now owns 37,800 shares of the biotechnology company’s stock worth $947,000 after acquiring an additional 15,200 shares in the last quarter. Headlands Technologies LLC increased 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 valued at $89,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in AnaptysBio by 52.4% during the second quarter. Renaissance Technologies LLC now owns 152,702 shares of the biotechnology company’s stock valued at $3,827,000 after purchasing an additional 52,502 shares in the last quarter.

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.