JPMorgan Chase & Co. Cuts AnaptysBio (NASDAQ:ANAB) Price Target to $36.00

AnaptysBio (NASDAQ:ANAB) had its target price lowered by JPMorgan Chase & Co. from $66.00 to $36.00 in a report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biotechnology company’s stock.

Other equities analysts have also recently issued reports about the stock. Wedbush restated an “outperform” rating and issued a $40.00 target price (down from $42.00) on shares of AnaptysBio in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their target price on AnaptysBio from $56.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. UBS Group upped their price objective on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Guggenheim decreased their target price on AnaptysBio from $90.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, HC Wainwright downgraded AnaptysBio from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $52.00 to $19.00 in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.45.

AnaptysBio Stock Performance

ANAB stock opened at $14.55 on Thursday. AnaptysBio has a 52 week low of $14.19 and a 52 week high of $41.31. The company’s 50-day simple moving average is $23.87 and its 200 day simple moving average is $29.18. The company has a market capitalization of $442.74 million, a PE ratio of -2.39 and a beta of -0.11.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.72) by $0.58. The company had revenue of $30.02 million for the quarter, compared to analysts’ expectations of $7.92 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. On average, analysts forecast that AnaptysBio will post -6.02 EPS for the current year.

Insider Transactions at AnaptysBio

In other news, insider Paul F. Lizzul sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.67, for a total transaction of $58,005.00. Following the completion of the transaction, the insider now directly owns 15,398 shares in the company, valued at $595,440.66. This trade represents a 8.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 33.70% of the stock is owned by company insiders.

Institutional Trading of AnaptysBio

Several institutional investors have recently added to or reduced their stakes in ANAB. Rhumbline Advisers lifted its position in shares of AnaptysBio by 1.8% in the 2nd quarter. Rhumbline Advisers now owns 29,715 shares of the biotechnology company’s stock worth $745,000 after purchasing an additional 525 shares during the period. Algert Global LLC raised its stake in AnaptysBio by 11.8% during the second quarter. Algert Global LLC now owns 10,178 shares of the biotechnology company’s stock worth $255,000 after buying an additional 1,078 shares during the last quarter. nVerses Capital LLC raised its stake in AnaptysBio by 700.0% during the third quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock worth $54,000 after buying an additional 1,400 shares during the last quarter. Values First Advisors Inc. acquired a new position in AnaptysBio in the third quarter valued at $49,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in AnaptysBio by 81.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock valued at $195,000 after acquiring an additional 2,600 shares during 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.