AnaptysBio (NASDAQ:ANAB) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of AnaptysBio (NASDAQ:ANAB) from a buy rating to a hold rating in a research note issued to investors on Sunday,Wall Street Zen reports.

Several other research firms have also recently commented on ANAB. Leerink Partners lowered their target price on shares of AnaptysBio from $90.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, September 23rd. JPMorgan Chase & Co. reduced their price target on AnaptysBio from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. Wolfe Research restated an “outperform” rating and set a $78.00 price objective on shares of AnaptysBio in a report on Monday, August 31st. Scotiabank downgraded AnaptysBio to a “hold” rating and set a $70.00 price objective for the company. in a research report on Tuesday, August 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $95.00 target price on shares of AnaptysBio in a research note on Tuesday, September 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.79.

AnaptysBio Price Performance

AnaptysBio stock opened at $47.89 on Friday. The stock has a market capitalization of $1.43 billion, a P/E ratio of 8.92 and a beta of 0.76. AnaptysBio has a 12-month low of $19.65 and a 12-month high of $72.36. The firm’s 50-day moving average is $54.87 and its two-hundred day moving average is $58.33.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Monday, September 21st. The biotechnology company reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $5.57. The business had revenue of $27.49 million during the quarter, compared to analyst estimates of $14.06 million. AnaptysBio had a net margin of 82.37% and a return on equity of 112.00%. During the same quarter in the previous year, the business posted ($1.30) earnings per share. As a group, analysts forecast that AnaptysBio will post -1.3 EPS for the current year.

Insider Buying and Selling at AnaptysBio

In related news, Director Hollings Renton sold 5,000 shares of AnaptysBio stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $49.87, for a total value of $249,350.00. Following the transaction, the director owned 10,995 shares in the company, valued at approximately $548,320.65. This trade represents a 31.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 31.50% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in shares of AnaptysBio in the second quarter worth $3,807,000. Irenic Capital Management LP purchased a new position in shares of AnaptysBio in the 2nd quarter valued at $4,755,000. Sofinnova Investments Inc. lifted its holdings in shares of AnaptysBio by 13.1% during the 4th quarter. Sofinnova Investments Inc. now owns 287,690 shares of the biotechnology company’s stock valued at $13,947,000 after acquiring an additional 33,422 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of AnaptysBio during the 1st quarter valued at $7,137,000. Finally, Squarepoint Ops LLC boosted its position in AnaptysBio by 21.2% during the 2nd quarter. Squarepoint Ops LLC now owns 324,446 shares of the biotechnology company’s stock worth $21,900,000 after purchasing an additional 56,743 shares during the period.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on developing antibody-based medicines for inflammatory and autoimmune diseases. The company uses its antibody discovery and engineering capabilities to identify therapies designed to modulate immune-system targets involved in disease.

AnaptysBio’s pipeline has included rosnilimab, an investigational antibody designed to target CD200R1, a receptor involved in regulating immune-cell activity. The company has evaluated rosnilimab in inflammatory and autoimmune conditions, including rheumatoid arthritis and ulcerative colitis.