AnaptysBio (NASDAQ:ANAB) Price Target Raised to $51.00 at Wells Fargo & Company

AnaptysBio (NASDAQ:ANAB) had its target price boosted by Wells Fargo & Company from $40.00 to $51.00 in a research note issued to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biotechnology company’s stock.

Several other brokerages have also recently issued reports on ANAB. Truist Financial decreased their price target on shares of AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Wolfe Research assumed coverage on shares of AnaptysBio in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of AnaptysBio in a research report on Wednesday. BTIG Research downgraded AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. decreased their price target on AnaptysBio from $66.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

AnaptysBio Trading Up 19.4 %

NASDAQ:ANAB opened at $19.29 on Thursday. The stock’s 50-day moving average is $15.91 and its 200-day moving average is $25.91. AnaptysBio has a 1-year low of $12.21 and a 1-year high of $41.31. The stock has a market cap of $586.99 million and a P/E ratio of -3.17.

Insider Buying and Selling at AnaptysBio

In related news, Director Ecor1 Capital, Llc purchased 65,184 shares of AnaptysBio stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $12.92 per share, for a total transaction of $842,177.28. Following the completion of the acquisition, the director now owns 7,860,180 shares of the company’s stock, valued at $101,553,525.60. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently made changes to their positions in ANAB. Frazier Life Sciences Management L.P. raised its stake in AnaptysBio by 2.0% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company’s stock worth $74,008,000 after buying an additional 43,598 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of AnaptysBio by 202.8% during the third quarter. Point72 Asset Management L.P. now owns 54,200 shares of the biotechnology company’s stock valued at $1,816,000 after acquiring an additional 36,300 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of AnaptysBio by 191.4% during the third quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company’s stock worth $1,130,000 after purchasing an additional 22,164 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of AnaptysBio by 677.9% in the 3rd quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company’s stock worth $7,948,000 after purchasing an additional 206,750 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of AnaptysBio by 55.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after purchasing an additional 168,813 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.