AnaptysBio (NASDAQ:ANAB) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of AnaptysBio (NASDAQ:ANAB - Free Report) in a research note published on Thursday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $56.00 price target on the biotechnology company's stock.

Other research analysts have also recently issued reports about the company. Piper Sandler assumed coverage on AnaptysBio in a research note on Friday, February 16th. They set an overweight rating and a $80.00 price objective on the stock. JPMorgan Chase & Co. decreased their price target on AnaptysBio from $30.00 to $28.00 and set a neutral rating on the stock in a research note on Monday, April 1st. BTIG Research started coverage on AnaptysBio in a research note on Monday, February 26th. They set a buy rating and a $55.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of AnaptysBio in a research note on Wednesday, February 21st. They issued a buy rating and a $50.00 target price on the stock. Finally, Wedbush raised shares of AnaptysBio from a neutral rating to an outperform rating and increased their price target for the company from $20.00 to $34.00 in a research report on Tuesday, March 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $46.13.

AnaptysBio Stock Performance

ANAB traded up $2.56 during trading on Thursday, reaching $24.73. The stock had a trading volume of 572,973 shares, compared to its average volume of 314,072. The business has a 50-day moving average of $23.56 and a 200-day moving average of $20.43. AnaptysBio has a one year low of $13.36 and a one year high of $27.50. The stock has a market cap of $661.85 million, a PE ratio of -4.07 and a beta of -0.30.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its quarterly earnings data on Monday, March 11th. The biotechnology company reported ($1.59) EPS for the quarter, beating the consensus estimate of ($1.74) by $0.15. The firm had revenue of $9.01 million for the quarter, compared to analyst estimates of $3.28 million. AnaptysBio had a negative return on equity of 119.42% and a negative net margin of 953.66%. Equities research analysts forecast that AnaptysBio will post -6.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Daniel Faga sold 145,940 shares of the firm's stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $22.78, for a total value of $3,324,513.20. Following the completion of the sale, the chief executive officer now directly owns 752,087 shares of the company's stock, valued at approximately $17,132,541.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Dennis Mulroy sold 3,065 shares of AnaptysBio stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $23.63, for a total transaction of $72,425.95. Following the sale, the chief financial officer now directly owns 964 shares in the company, valued at $22,779.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Faga sold 145,940 shares of the company's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $22.78, for a total value of $3,324,513.20. Following the completion of the sale, the chief executive officer now directly owns 752,087 shares in the company, valued at $17,132,541.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,005 shares of company stock worth $3,586,199. 35.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AnaptysBio

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANAB. Fisher Asset Management LLC increased its stake in shares of AnaptysBio by 0.7% in the 4th quarter. Fisher Asset Management LLC now owns 71,154 shares of the biotechnology company's stock worth $1,524,000 after acquiring an additional 500 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in AnaptysBio by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 231,754 shares of the biotechnology company's stock worth $4,965,000 after purchasing an additional 5,472 shares during the period. Palo Alto Investors LP increased its stake in shares of AnaptysBio by 59.3% during the fourth quarter. Palo Alto Investors LP now owns 686,882 shares of the biotechnology company's stock valued at $14,713,000 after purchasing an additional 255,658 shares in the last quarter. Octagon Capital Advisors LP purchased a new position in shares of AnaptysBio during the fourth quarter valued at approximately $2,570,000. Finally, Great Point Partners LLC boosted its position in shares of AnaptysBio by 9.2% in the 4th quarter. Great Point Partners LLC now owns 976,981 shares of the biotechnology company's stock worth $20,927,000 after purchasing an additional 82,648 shares in the last quarter.

About AnaptysBio

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.