AnaptysBio (NASDAQ:ANAB) Given New $66.00 Price Target at JPMorgan Chase & Co.

AnaptysBio (NASDAQ:ANAB) had its price objective cut by JPMorgan Chase & Co. from $75.00 to $66.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

ANAB has been the subject of a number of other research reports. Wedbush restated an “outperform” rating and set a $42.00 price objective on shares of AnaptysBio in a research report on Wednesday, November 6th. UBS Group upped their price target on shares of AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial upped their price target on shares of AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. HC Wainwright lowered their price target on shares of AnaptysBio from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Guggenheim upped their price target on shares of AnaptysBio from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.64.

AnaptysBio Price Performance

ANAB stock opened at $19.00 on Tuesday. The company has a fifty day moving average price of $31.40 and a 200 day moving average price of $29.89. AnaptysBio has a 12 month low of $13.36 and a 12 month high of $41.31. The company has a market cap of $578.17 million, a price-to-earnings ratio of -3.13 and a beta of -0.24.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, topping analysts’ consensus estimates of ($1.72) by $0.58. The company had revenue of $30.02 million during the quarter, compared to the consensus estimate of $7.92 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. As a group, analysts anticipate that AnaptysBio will post -6.09 earnings per share for the current year.

Insider Transactions at AnaptysBio

In other news, insider Paul F. Lizzul sold 1,500 shares of AnaptysBio stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.67, for a total transaction of $58,005.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dennis Mulroy sold 12,220 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $39.91, for a total transaction of $487,700.20. Following the completion of the sale, the chief financial officer now directly owns 4,744 shares in the company, valued at $189,333.04. This represents a 72.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,440 shares of company stock worth $892,936 over the last ninety days. 33.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

Several hedge funds have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. lifted its position in AnaptysBio by 140.7% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,165,591 shares of the biotechnology company’s stock valued at $54,270,000 after buying an additional 1,265,891 shares in the last quarter. FMR LLC lifted its position in AnaptysBio by 15.3% during the third quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock valued at $110,857,000 after buying an additional 438,557 shares in the last quarter. Jennison Associates LLC acquired a new position in AnaptysBio during the third quarter valued at approximately $8,874,000. StemPoint Capital LP lifted its position in AnaptysBio by 499.0% during the first quarter. StemPoint Capital LP now owns 269,548 shares of the biotechnology company’s stock valued at $6,070,000 after buying an additional 224,548 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in AnaptysBio by 677.9% during the third quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company’s stock valued at $7,948,000 after buying an additional 206,750 shares in 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.