AnaptysBio (NASDAQ:ANAB) Given New $42.00 Price Target at JPMorgan Chase & Co.

AnaptysBio (NASDAQ:ANAB) had its price objective hoisted by JPMorgan Chase & Co. from $36.00 to $42.00 in a research note released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biotechnology company’s stock.

A number of other research analysts also recently weighed in on the stock. BTIG Research downgraded shares of AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. Guggenheim dropped their target price on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. HC Wainwright reiterated a “neutral” rating and issued a $22.00 target price on shares of AnaptysBio in a report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $40.00 target price on shares of AnaptysBio in a report on Wednesday, February 12th. Finally, Wolfe Research assumed coverage on shares of AnaptysBio in a report on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.11.

AnaptysBio Trading Up 9.8 %

AnaptysBio stock opened at $16.75 on Wednesday. The company has a market capitalization of $509.69 million and a P/E ratio of -2.75. The firm’s fifty day simple moving average is $16.11 and its 200-day simple moving average is $24.27. AnaptysBio has a 1-year low of $12.21 and a 1-year high of $41.31.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.61) by $0.89. The business had revenue of $43.11 million for the quarter, compared to the consensus estimate of $10.17 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. On average, equities research analysts predict that AnaptysBio will post -6.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ecor1 Capital, Llc purchased 6,646 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were bought at an average cost of $12.95 per share, for a total transaction of $86,065.70. Following the transaction, the director now directly owns 7,880,094 shares of the company’s stock, valued at approximately $102,047,217.30. This trade represents a 0.08 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 33.70% of the company’s stock.

Institutional Trading of AnaptysBio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its position in AnaptysBio by 131.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 1,531 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of AnaptysBio during the 4th quarter valued at about $40,000. AlphaQuest LLC boosted its position in shares of AnaptysBio by 1,891.5% during the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock valued at $59,000 after acquiring an additional 4,237 shares in the last quarter. Virtus ETF Advisers LLC boosted its position in shares of AnaptysBio by 24.7% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 936 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of AnaptysBio by 1,585.8% during the 4th quarter. Russell Investments Group Ltd. now owns 5,698 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 5,360 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.