SVB Leerink Initiates Coverage on AnaptysBio (NASDAQ:ANAB)

SVB Leerink assumed coverage on shares of AnaptysBio (NASDAQ:ANAB - Free Report) in a report published on Tuesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $47.00 price objective on the biotechnology company's stock.

A number of other equities research analysts have also weighed in on the stock. Wedbush upgraded shares of AnaptysBio from a neutral rating to an outperform rating and upped their target price for the stock from $20.00 to $34.00 in a report on Tuesday, March 12th. Wells Fargo & Company began coverage on AnaptysBio in a report on Thursday, April 11th. They issued an overweight rating and a $56.00 target price on the stock. BTIG Research began coverage on AnaptysBio in a report on Monday, February 26th. They set a buy rating and a $55.00 price target for 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of AnaptysBio from $30.00 to $28.00 and set a neutral rating for the company in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, AnaptysBio has a consensus rating of Moderate Buy and an average price target of $46.22.

AnaptysBio Stock Performance

Shares of NASDAQ ANAB traded up $0.07 during midday trading on Tuesday, hitting $21.34. 244,875 shares of the stock traded hands, compared to its average volume of 312,941. AnaptysBio has a one year low of $13.36 and a one year high of $27.50. The business has a 50 day moving average price of $23.42 and a two-hundred day moving average price of $20.54. The company has a market cap of $571.06 million, a PE ratio of -3.51 and a beta of -0.30.

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

Insider Activity

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

Institutional Investors Weigh In On AnaptysBio

Several large investors have recently added to or reduced their stakes in the company. Woodline Partners LP boosted its holdings in shares of AnaptysBio by 125.1% in the second quarter. Woodline Partners LP now owns 1,034,549 shares of the biotechnology company's stock worth $21,043,000 after acquiring an additional 574,987 shares during the period. First Light Asset Management LLC lifted its holdings in AnaptysBio by 56.4% during the 4th quarter. First Light Asset Management LLC now owns 1,237,178 shares of the biotechnology company's stock worth $26,500,000 after purchasing an additional 446,372 shares in the last quarter. Eventide Asset Management LLC bought a new position in AnaptysBio in the 3rd quarter worth about $7,669,000. Millennium Management LLC grew its holdings in AnaptysBio by 1,050.7% during the 4th quarter. Millennium Management LLC now owns 322,802 shares of the biotechnology company's stock valued at $10,004,000 after buying an additional 294,750 shares in the last quarter. Finally, Palo Alto Investors LP increased its position 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 buying an additional 255,658 shares during the period.

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.