AnaptysBio (NASDAQ:ANAB) Shares Up 16.5% Following Analyst Upgrade

AnaptysBio, Inc. (NASDAQ:ANAB) traded up 16.5% during mid-day trading 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. Approximately 533,624 shares traded hands during trading, a decline of 53% from the average session volume of 1,131,849 shares. The stock had previously closed at $16.15.

Several other equities analysts have also recently weighed in on the stock. HC Wainwright reaffirmed a “neutral” rating and issued a $19.00 price target on shares of AnaptysBio in a research report on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $40.00 price target on shares of AnaptysBio in a research report on Wednesday. UBS Group lifted their price objective on shares of AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price objective on shares of AnaptysBio from $66.00 to $36.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Wolfe Research initiated coverage on AnaptysBio in a research report on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price target on the stock. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AnaptysBio currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Insider Transactions at AnaptysBio

In other news, Director Ecor1 Capital, Llc purchased 65,184 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $12.92 per share, for a total transaction of $842,177.28. Following the purchase, the director now directly owns 7,860,180 shares in the company, valued at approximately $101,553,525.60. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 33.70% of the company’s stock.

Institutional Trading of AnaptysBio

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in shares of AnaptysBio by 131.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 1,531 shares during the period. KLP Kapitalforvaltning AS bought a new stake in AnaptysBio during the fourth quarter valued at approximately $40,000. Values First Advisors Inc. purchased a new stake in AnaptysBio during the third quarter valued at approximately $49,000. nVerses Capital LLC boosted its stake in shares of AnaptysBio by 700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock worth $54,000 after acquiring an additional 1,400 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake 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 worth $59,000 after acquiring an additional 4,237 shares during the last quarter.

AnaptysBio Trading Up 10.0 %

The firm has a 50 day moving average price of $15.82 and a 200 day moving average price of $25.86. The stock has a market capitalization of $645.72 million and a PE ratio of -3.49.

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.