AnaptysBio (NASDAQ:ANAB) Upgraded to "Hold" at Truist Financial

Key Points

• Truist Financial upgraded AnaptysBio (NASDAQ:ANAB) to a "hold" rating in a Wednesday research note.
• AnaptysBio beat estimates in the latest quarter with $1.58 EPS versus $0.89 expected and $108.25M revenue versus $87.09M expected, but the company remains unprofitable (negative ROE and net margin) and analysts project -6.08 EPS for the current fiscal year.
• Analysts' consensus is a Moderate Buy with an average price target of $78.44; the stock is trading near its 52‑week high and insiders sold roughly 92,514 shares (about $4.24M) over the last quarter.

AnaptysBio (NASDAQ:ANAB - Get Free Report) was upgraded by Truist Financial to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Wedbush raised their price target on AnaptysBio from $60.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, March 12th. UBS Group boosted their price objective on AnaptysBio from $70.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, March 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AnaptysBio in a research note on Wednesday, January 21st. Wall Street Zen cut shares of AnaptysBio from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 23rd. Finally, HC Wainwright boosted their price target on shares of AnaptysBio from $51.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AnaptysBio currently has a consensus rating of "Moderate Buy" and an average price target of $78.44.

AnaptysBio Stock Performance

NASDAQ:ANAB opened at $65.39 on Wednesday. The stock's fifty day moving average price is $54.69 and its two-hundred day moving average price is $43.09. AnaptysBio has a 52-week low of $15.40 and a 52-week high of $68.39. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -125.75 and a beta of 0.32.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, beating the consensus estimate of $0.89 by $0.69. The company had revenue of $108.25 million during the quarter, compared to analysts' expectations of $87.09 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%. On average, equities analysts predict that AnaptysBio will post -6.08 EPS for the current fiscal year.

Insider Buying and Selling at AnaptysBio

In other AnaptysBio news, insider Paul F. Lizzul sold 3,650 shares of the firm's stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $44.71, for a total transaction of $163,191.50. Following the transaction, the insider owned 42,088 shares in the company, valued at approximately $1,881,754.48. This trade represents a 7.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Magda Marquet sold 11,000 shares of the business's stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $48.23, for a total value of $530,530.00. Following the transaction, the director owned 9,930 shares of the company's stock, valued at $478,923.90. The trade was a 52.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 92,514 shares of company stock valued at $4,243,935 over the last quarter. 33.50% of the stock is owned by corporate insiders.

Institutional Trading of AnaptysBio

A number of hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in AnaptysBio by 4,852.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company's stock worth $25,719,000 after acquiring an additional 822,975 shares during the last quarter. Affinity Asset Advisors LLC bought a new stake in AnaptysBio in the fourth quarter valued at approximately $21,559,000. 683 Capital Management LLC raised 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 worth $11,100,000 after purchasing an additional 304,373 shares during the period. JPMorgan Chase & Co. boosted its position in shares of AnaptysBio by 1,631.6% during the second quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company's stock worth $5,497,000 after purchasing an additional 233,325 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its position in shares of AnaptysBio by 2,358.3% during the fourth quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company's stock worth $11,109,000 after purchasing an additional 219,816 shares in the last quarter.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company's technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company's pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.

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