AnaptysBio (ANAB) Sees Strong Trading Volume on Analyst Upgrade

AnaptysBio Inc (NASDAQ:ANAB) saw unusually-strong trading volume on Monday after Royal Bank of Canada raised their price target on the stock to $108.00. Royal Bank of Canada currently has an outperform rating on the stock. Approximately 1,927,700 shares were traded during trading, an increase of 770% from the previous session’s volume of 221,524 shares.The stock last traded at $91.96 and had previously closed at $88.75.

A number of other research firms also recently weighed in on ANAB. Zacks Investment Research raised shares of AnaptysBio from a “sell” rating to a “hold” rating and set a $74.00 price target on the stock in a research note on Friday, November 10th. JMP Securities raised their target price on shares of AnaptysBio from $45.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, October 10th. Wedbush reissued a “positive” rating and issued a $82.00 target price (up previously from $75.00) on shares of AnaptysBio in a research note on Tuesday, November 7th. Credit Suisse Group raised their target price on shares of AnaptysBio from $38.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, October 10th. Finally, Jefferies Group started coverage on shares of AnaptysBio in a research note on Thursday, November 9th. They issued a “buy” rating and a $101.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $88.00.

Several hedge funds have recently modified their holdings of ANAB. TIAA CREF Investment Management LLC purchased a new position in shares of AnaptysBio in the 1st quarter valued at $227,000. Geode Capital Management LLC acquired a new stake in AnaptysBio during the 1st quarter valued at $1,522,000. Bank of America Corp DE acquired a new stake in AnaptysBio during the 1st quarter valued at $123,000. Schwab Charles Investment Management Inc. grew its holdings in AnaptysBio by 94.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 19,402 shares of the biotechnology company’s stock valued at $465,000 after purchasing an additional 9,414 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new stake in AnaptysBio during the 2nd quarter valued at $436,000. 75.48% of the stock is currently owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.77 and a current ratio of 10.77.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.45) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.02. equities research analysts predict that AnaptysBio Inc will post -1.72 earnings per share for the current year.

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About AnaptysBio

AnaptysBio, Inc is a United States-based biotechnology company. The Company is engaged in developing antibody product candidates focused on unmet medical needs in inflammation and immuno-oncology. The Company develops its product candidates using its antibody discovery technology platform, which is designed to replicate, in vitro, the natural process of antibody generation.

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