Truist Financial Issues Positive Forecast for AnaptysBio (NASDAQ:ANAB) Stock Price

AnaptysBio (NASDAQ:ANAB) had its target price increased by research analysts at Truist Financial from $20.00 to $36.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the biotechnology company’s stock. Truist Financial’s price objective points to a potential upside of 5.03% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Wedbush lifted their price target on shares of AnaptysBio from $45.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. upped their price target on shares of AnaptysBio from $42.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Barclays began coverage on shares of AnaptysBio in a research report on Monday, October 13th. They set an “overweight” rating and a $78.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of AnaptysBio from $51.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, Wall Street Zen upgraded AnaptysBio from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, AnaptysBio has a consensus rating of “Moderate Buy” and an average price target of $62.90.

AnaptysBio Stock Down 13.6%

NASDAQ ANAB traded down $5.37 on Monday, hitting $34.28. 1,019,242 shares of the stock were exchanged, compared to its average volume of 701,296. The company has a market cap of $949.13 million, a PE ratio of -12.16 and a beta of 0.16. The company has a 50-day moving average price of $28.81 and a 200-day moving average price of $24.73. AnaptysBio has a fifty-two week low of $12.21 and a fifty-two week high of $40.96.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $1.58. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 49.94%.The company had revenue of $76.32 million during the quarter, compared to the consensus estimate of $15.83 million. As a group, equities research analysts predict that AnaptysBio will post -6.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. First Light Asset Management LLC boosted its stake in shares of AnaptysBio by 433.3% during the 1st quarter. First Light Asset Management LLC now owns 4,633,602 shares of the biotechnology company’s stock worth $86,139,000 after acquiring an additional 3,764,720 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in AnaptysBio by 4,852.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock valued at $25,719,000 after purchasing an additional 822,975 shares in the last quarter. Caption Management LLC raised its holdings in AnaptysBio by 106.3% during the first quarter. Caption Management LLC now owns 23,376 shares of the biotechnology company’s stock worth $435,000 after purchasing an additional 394,634 shares during the last quarter. Woodline Partners LP boosted its position in AnaptysBio by 63.1% during the first quarter. Woodline Partners LP now owns 791,023 shares of the biotechnology company’s stock worth $14,705,000 after purchasing an additional 305,950 shares in the last quarter. Finally, 683 Capital Management LLC grew its holdings in AnaptysBio by 155.6% in the second quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock valued at $11,100,000 after purchasing an additional 304,373 shares during the last quarter.

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.