Wells Fargo & Company Has Lowered Expectations for AnaptysBio (NASDAQ:ANAB) Stock Price

AnaptysBio (NASDAQ:ANAB) had its price objective reduced by investment analysts at Wells Fargo & Company from $56.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 166.13% from the stock’s previous close.

Other research analysts have also issued research reports about the company. 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 research report on Wednesday. UBS Group boosted their target price on shares of AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial raised 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. Guggenheim lowered their price objective on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped their target price on shares of AnaptysBio from $75.00 to $66.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, AnaptysBio has a consensus rating of “Moderate Buy” and a consensus target price of $45.09.

AnaptysBio Stock Down 3.1 %

ANAB stock traded down $0.48 during mid-day trading on Thursday, hitting $15.03. The company had a trading volume of 430,919 shares, compared to its average volume of 377,990. The company has a 50-day moving average price of $26.33 and a 200 day moving average price of $29.59. AnaptysBio has a 12-month low of $14.20 and a 12-month high of $41.31. The company has a market capitalization of $457.36 million, a price-to-earnings ratio of -2.47 and a beta of -0.11.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $30.02 million during the quarter, compared to analyst estimates of $7.92 million. As a group, analysts expect that AnaptysBio will post -6.02 EPS for the current year.

Insider Buying and Selling

In other news, CFO Dennis Mulroy sold 12,220 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $39.91, for a total transaction of $487,700.20. Following the sale, the chief financial officer now owns 4,744 shares of the company’s stock, valued at $189,333.04. This trade represents a 72.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul F. Lizzul sold 1,500 shares of the company’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 owns 15,398 shares of the company’s stock, valued at approximately $595,440.66. This trade represents a 8.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,440 shares of company stock worth $892,936. 33.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On AnaptysBio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its holdings in AnaptysBio by 38.2% in the second quarter. Assenagon Asset Management S.A. now owns 306,633 shares of the biotechnology company’s stock valued at $7,684,000 after acquiring an additional 84,795 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of AnaptysBio by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 74,510 shares of the biotechnology company’s stock worth $1,867,000 after purchasing an additional 10,423 shares during the period. Rhumbline Advisers raised its holdings in AnaptysBio by 1.8% in the 2nd quarter. Rhumbline Advisers now owns 29,715 shares of the biotechnology company’s stock valued at $745,000 after buying an additional 525 shares during the period. TD Asset Management Inc lifted 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 valued at $947,000 after buying an additional 15,200 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in AnaptysBio by 444.8% during the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock worth $89,000 after buying an additional 2,900 shares during the period.

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.