AnaptysBio (NASDAQ:ANAB) Stock Price Up 16.5% – Still a Buy?

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price rose 16.5% during mid-day trading on Thursday . The stock traded as high as $18.82 and last traded at $18.81. Approximately 533,624 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 1,131,849 shares. The stock had previously closed at $16.15.

Analysts Set New Price Targets

ANAB has been the topic of several recent research reports. Wolfe Research initiated coverage on shares of AnaptysBio in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price target on the stock. UBS Group lifted their target price on shares of AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Guggenheim cut their price target 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. Wells Fargo & Company lowered their price objective on shares of AnaptysBio from $56.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. reduced their target price on AnaptysBio from $66.00 to $36.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Four equities research 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.08.

AnaptysBio Stock Up 13.7 %

The stock has a market cap of $558.91 million and a P/E ratio of -3.03. The firm’s 50-day moving average is $15.91 and its two-hundred day moving average is $25.91.

Insider Activity

In other news, Director Ecor1 Capital, Llc bought 6,646 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were acquired at an average cost of $12.95 per share, for a total transaction of $86,065.70. Following the purchase, the director now owns 7,880,094 shares of the company’s stock, valued at $102,047,217.30. This represents a 0.08 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 33.70% of the stock is currently owned by insiders.

Institutional Trading of AnaptysBio

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its position in AnaptysBio by 15.3% during the third quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock worth $110,857,000 after buying an additional 438,557 shares in the last quarter. Jennison Associates LLC acquired a new position in AnaptysBio in the third quarter worth about $8,874,000. Victory Capital Management Inc. raised its position in AnaptysBio by 677.9% in the third 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. Assenagon Asset Management S.A. raised its position in AnaptysBio by 55.1% in the third 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. Finally, Walleye Capital LLC acquired a new position in AnaptysBio in the third quarter worth about $5,494,000.

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.