Zacks Investment Research upgraded shares of AnaptysBio, Inc. (NASDAQ:ANAB) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. Zacks Investment Research currently has $24.00 price objective on the biotechnology company’s stock.
According to Zacks, “AnaptysBio, Inc. is a biotechnology company. It involved in the discovery and development of therapeutic antibodies for inflammation and immuno-oncology primarily in the Unites states. AnaptysBio, Inc. is based in San Diego, California. “
Several other equities research analysts also recently weighed in on the stock. Robert W. Baird assumed coverage on shares of AnaptysBio in a research note on Monday, July 10th. They set an outperform rating and a $36.00 target price on the stock. Stifel Nicolaus upped their target price on shares of AnaptysBio from $30.00 to $35.00 and gave the stock a buy rating in a research note on Tuesday, May 2nd. Finally, Credit Suisse Group reaffirmed an outperform rating and set a $34.00 target price on shares of AnaptysBio in a research note on Tuesday, April 18th. Six equities research analysts have rated the stock with a buy rating, AnaptysBio currently has an average rating of Buy and a consensus target price of $33.67.
Shares of AnaptysBio (ANAB) traded up 4.60% during trading on Tuesday, hitting $22.27. 92,148 shares of the stock were exchanged. AnaptysBio has a one year low of $15.17 and a one year high of $30.71. The stock’s 50 day moving average price is $24.38 and its 200-day moving average price is $24.48. The company’s market cap is $453.02 million.
AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Thursday, August 10th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.29. The business had revenue of $7 million for the quarter, compared to analysts’ expectations of $3.45 million. On average, analysts predict that AnaptysBio will post ($1.96) EPS for the current year.
In other AnaptysBio news, major shareholder Ventures Vii L. P. Avalon sold 37,040 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $24.35, for a total value of $901,924.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Holdings A/S Novo sold 491,294 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $21.12, for a total transaction of $10,376,129.28. Following the completion of the sale, the insider now directly owns 2,952,527 shares in the company, valued at $62,357,370.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 777,640 shares of company stock worth $16,705,386.
Several large investors have recently made changes to their positions in the stock. Frazier Management LLC purchased a new stake in shares of AnaptysBio during the first quarter worth approximately $102,354,000. Perceptive Advisors LLC purchased a new stake in shares of AnaptysBio during the first quarter worth approximately $24,474,000. Hamilton Lane Advisors LLC purchased a new stake in shares of AnaptysBio during the first quarter worth approximately $11,213,000. Artal Group S.A. increased its stake in shares of AnaptysBio by 459.4% in the second quarter. Artal Group S.A. now owns 250,000 shares of the biotechnology company’s stock worth $5,983,000 after buying an additional 205,310 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of AnaptysBio during the first quarter worth approximately $6,924,000. 71.56% of the stock is currently owned by institutional investors.
AnaptysBio, Inc is a United States-based biotechnology company. The Company is engaged in developing antibody product candidates focused on unmet medical needs in inflammation and immuno-oncology. The Company develops its product candidates using its antibody discovery technology platform, which is designed to replicate, in vitro, the natural process of antibody generation.
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