AnaptysBio (NASDAQ:ANAB) Given New $36.00 Price Target at JPMorgan Chase & Co.

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

A number of other equities research analysts have also weighed in on ANAB. BTIG Research lowered shares of AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. HC Wainwright lowered AnaptysBio from a “buy” rating to a “neutral” rating and dropped their target price for the company from $52.00 to $19.00 in a report on Wednesday, December 11th. Truist Financial decreased their price target on AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday. Wedbush restated an “outperform” rating and set a $40.00 price objective (down from $42.00) on shares of AnaptysBio in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company cut their target price on AnaptysBio from $56.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, AnaptysBio presently has a consensus rating of “Moderate Buy” and an average price target of $41.45.

AnaptysBio Stock Performance

Shares of AnaptysBio stock opened at $14.55 on Thursday. The stock has a market capitalization of $442.74 million, a PE ratio of -2.39 and a beta of -0.11. AnaptysBio has a 52 week low of $14.19 and a 52 week high of $41.31. The stock has a 50 day moving average price of $23.87 and a two-hundred day moving average price of $29.18.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly 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. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The business had revenue of $30.02 million during the quarter, compared to the consensus estimate of $7.92 million. Research analysts forecast that AnaptysBio will post -6.02 EPS for the current year.

Insider Buying and Selling

In related news, insider Paul F. Lizzul sold 1,500 shares of the company’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 transaction of $58,005.00. Following the sale, the insider now directly owns 15,398 shares in the company, valued at approximately $595,440.66. This represents a 8.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 33.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AnaptysBio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of AnaptysBio by 15.3% in the third quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock worth $110,857,000 after acquiring an additional 438,557 shares during the period. Frazier Life Sciences Management L.P. lifted its holdings 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 worth $74,008,000 after purchasing an additional 43,598 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in AnaptysBio by 55.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after purchasing an additional 168,813 shares in the last quarter. Geode Capital Management LLC boosted its stake in AnaptysBio by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 465,401 shares of the biotechnology company’s stock worth $15,594,000 after purchasing an additional 13,336 shares during the period. Finally, Jennison Associates LLC purchased a new position in AnaptysBio during the 3rd quarter valued at about $8,874,000.

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.