AnaptysBio, Inc. (ANAB) Upgraded at Zacks Investment Research
AnaptysBio, Inc. (NASDAQ:ANAB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $24.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 16.05% from the stock’s previous close.
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. “
Other analysts also recently issued research reports about the stock. Stifel Nicolaus increased their price objective on shares of AnaptysBio from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, May 2nd. Robert W. Baird began coverage on shares of AnaptysBio in a report on Monday, July 10th. They issued an “outperform” rating and a $36.00 price objective for the company. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $34.00 price objective on shares of AnaptysBio in a report on Tuesday, April 18th. Six investment analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $33.67.
AnaptysBio (NASDAQ ANAB) traded down 4.39% on Tuesday, reaching $20.68. The company had a trading volume of 411,228 shares. The company’s 50-day moving average price is $24.71 and its 200 day moving average price is $24.50. The firm’s market capitalization is $420.67 million. AnaptysBio has a 1-year low of $15.17 and a 1-year high of $30.71.
AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data on Thursday, August 10th. The biotechnology company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.29. The business had revenue of $7 million during the quarter, compared to analyst estimates of $3.45 million. On average, equities analysts forecast that AnaptysBio will post ($2.48) EPS for the current year.
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In other news, major shareholder Holdings A/S Novo sold 70,706 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $23.31, for a total value of $1,648,156.86. Following the completion of the sale, the insider now owns 3,009,949 shares of the company’s stock, valued at approximately $70,161,911.19. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $901,924.00. The disclosure for this sale can be found here. In the last three months, insiders sold 599,040 shares of company stock valued at $12,926,210.
Hedge funds have recently bought and sold shares of the stock. DAFNA Capital Management LLC boosted its stake in AnaptysBio by 22.2% in the second quarter. DAFNA Capital Management LLC now owns 5,500 shares of the biotechnology company’s stock valued at $132,000 after buying an additional 1,000 shares during the period. Teachers Advisors LLC boosted its stake in AnaptysBio by 23.4% in the second quarter. Teachers Advisors LLC now owns 9,520 shares of the biotechnology company’s stock valued at $228,000 after buying an additional 1,807 shares during the period. Bank of America Corp DE purchased a new stake in AnaptysBio during the first quarter valued at $123,000. TIAA CREF Investment Management LLC boosted its stake in AnaptysBio by 69.2% in the second quarter. TIAA CREF Investment Management LLC now owns 13,844 shares of the biotechnology company’s stock valued at $331,000 after buying an additional 5,663 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in AnaptysBio by 46.8% in the second quarter. Bank of New York Mellon Corp now owns 19,744 shares of the biotechnology company’s stock valued at $473,000 after buying an additional 6,297 shares during the period. 71.56% of the stock is owned by institutional investors and hedge funds.
AnaptysBio Company Profile
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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