AnaptysBio (NASDAQ:ANAB) Trading Up 16.5% on Analyst Upgrade

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price shot up 16.5% on Thursday after Wells Fargo & Company raised their price target on the stock from $40.00 to $51.00. Wells Fargo & Company currently has an overweight rating on the stock. AnaptysBio traded as high as $18.82 and last traded at $18.81. 533,624 shares were traded during trading, a decline of 53% from the average session volume of 1,131,849 shares. The stock had previously closed at $16.15.

Other equities research analysts also recently issued research reports about the stock. Guggenheim decreased their price target on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. HC Wainwright restated a “neutral” rating and set a $19.00 target price on shares of AnaptysBio in a research report on Tuesday, February 4th. Wolfe Research assumed coverage on AnaptysBio in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on AnaptysBio from $66.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, BTIG Research cut shares of AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Insider Buying and Selling at AnaptysBio

In related news, Director Ecor1 Capital, Llc bought 65,184 shares of the company’s stock in a transaction on Monday, December 30th. The shares were acquired at an average price of $12.92 per share, with a total value of $842,177.28. Following the transaction, the director now owns 7,860,180 shares of the company’s stock, valued at $101,553,525.60. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 33.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ANAB. FMR LLC lifted its position in AnaptysBio by 15.3% during the 3rd quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock worth $110,857,000 after acquiring an additional 438,557 shares during the period. Frazier Life Sciences Management L.P. boosted its position in AnaptysBio by 2.0% in the third quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company’s stock valued at $74,008,000 after buying an additional 43,598 shares during the last quarter. Vanguard Group Inc. boosted its position in AnaptysBio by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company’s stock valued at $24,411,000 after buying an additional 143,584 shares during the last quarter. Boxer Capital Management LLC acquired a new position in AnaptysBio in the 4th quarter worth approximately $17,212,000. Finally, Geode Capital Management LLC raised its position in AnaptysBio by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 486,597 shares of the biotechnology company’s stock worth $6,444,000 after buying an additional 21,196 shares during the last quarter.

AnaptysBio Stock Performance

The firm has a market capitalization of $645.72 million and a price-to-earnings ratio of -3.49. The firm’s 50 day simple moving average is $15.82 and its 200 day simple moving average is $25.86.

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.