AnaptysBio (NASDAQ:ANAB) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded AnaptysBio to “Hold” from “Buy,” though the broader analyst consensus remains “Moderate Buy,” with 13 Buy, three Hold, and one Sell rating and an average price target of $77.79.
• AnaptysBio shares opened at $48.53, well below the average analyst target, after trading between $19.65 and $72.36 over the past year. The company recently reported quarterly EPS of $5.11 and revenue of $27.49 million, exceeding analyst estimates.
• Director Hollings Renton sold 5,000 shares for approximately $249,350 under a pre-arranged trading plan; company insiders still own 31.5% of the stock.

AnaptysBio (NASDAQ:ANAB - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday, Wall Street Zen reports.

A number of other equities research analysts have also recently weighed in on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of AnaptysBio in a research report on Tuesday, September 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $95.00 price target on shares of AnaptysBio in a research report on Tuesday, September 22nd. JPMorgan Chase & Co. lowered their price objective on AnaptysBio from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday. Scotiabank cut shares of AnaptysBio to a "hold" rating and set a $70.00 price target for the company. in a report on Tuesday, August 25th. Finally, TD Cowen dropped their price objective on shares of AnaptysBio from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, August 25th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, AnaptysBio currently has an average rating of "Moderate Buy" and an average target price of $77.79.

AnaptysBio Price Performance

Shares of ANAB stock opened at $48.53 on Friday. AnaptysBio has a 1 year low of $19.65 and a 1 year high of $72.36. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 9.04 and a beta of 0.76. The business has a fifty day moving average of $55.04 and a 200 day moving average of $58.62.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its earnings results on Monday, September 21st. The biotechnology company reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.46) by $5.57. AnaptysBio had a net margin of 82.37% and a return on equity of 112.00%. The business had revenue of $27.49 million for the quarter, compared to analyst estimates of $14.06 million. During the same period last year, the company posted ($1.30) EPS. As a group, equities research analysts expect that AnaptysBio will post -1.3 earnings per share for the current year.

Insider Buying and Selling at AnaptysBio

In related news, Director Hollings Renton sold 5,000 shares of the firm's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $49.87, for a total transaction of $249,350.00. Following the transaction, the director owned 10,995 shares of the company's stock, valued at $548,320.65. This trade represents a 31.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 31.50% of the company's stock.

Hedge Funds Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently made changes to their positions in ANAB. Tema ETFs LLC raised its position in AnaptysBio by 0.6% during the second quarter. Tema ETFs LLC now owns 31,270 shares of the biotechnology company's stock worth $2,111,000 after acquiring an additional 201 shares during the last quarter. Arizona State Retirement System lifted its stake in AnaptysBio by 13.5% in the 2nd quarter. Arizona State Retirement System now owns 4,363 shares of the biotechnology company's stock valued at $295,000 after buying an additional 518 shares in the last quarter. Persistent Asset Partners Ltd acquired a new position in shares of AnaptysBio in the second quarter worth $39,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of AnaptysBio by 940.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,530 shares of the biotechnology company's stock valued at $74,000 after acquiring an additional 1,383 shares during the last quarter. Finally, Group One Trading LLC purchased a new stake in AnaptysBio during the 2nd quarter worth about $140,000.

About AnaptysBio

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.

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