AnaptysBio (NASDAQ:ANAB) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of AnaptysBio (NASDAQ:ANAB) from a hold rating to a sell rating in a report released on Tuesday, Zacks.com reports.

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 research firms have also commented on ANAB. Cantor Fitzgerald upped their price objective on Horizon Therapeutics from $26.00 to $32.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. SunTrust Banks restated a buy rating and issued a $35.00 price objective on shares of Whiting Petroleum in a research note on Monday, June 24th. Stifel Nicolaus lowered AnaptysBio from a buy rating to a hold rating and reduced their price objective for the stock from $124.00 to $74.00 in a research note on Friday, June 21st. Credit Suisse Group reduced their price objective on from GBX 145 ($1.89) to GBX 105 ($1.37) and set a neutral rating for the company in a research note on Friday, June 21st. Finally, HC Wainwright set a $126.00 price objective on AnaptysBio and gave the stock a buy rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $111.25.

Shares of ANAB opened at $54.11 on Tuesday. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -21.64 and a beta of 1.38. The company’s fifty day moving average is $65.49. AnaptysBio has a 1-year low of $52.71 and a 1-year high of $110.00.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.01. As a group, equities research analysts anticipate that AnaptysBio will post -3.76 earnings per share for the current year.

In other AnaptysBio news, CEO Hamza Suria sold 22,428 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $73.76, for a total value of $1,654,289.28. Following the completion of the sale, the chief executive officer now owns 31,524 shares in the company, valued at approximately $2,325,210.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Marco Londei sold 10,060 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $73.06, for a total value of $734,983.60. Following the completion of the sale, the insider now owns 32,437 shares of the company’s stock, valued at approximately $2,369,847.22. The disclosure for this sale can be found here. Corporate insiders own 14.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANAB. Diag Capital Management LP bought a new position in shares of AnaptysBio during the 4th quarter valued at about $95,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of AnaptysBio during the 1st quarter valued at about $110,000. Bank of America Corp DE boosted its holdings in shares of AnaptysBio by 141.2% during the 4th quarter. Bank of America Corp DE now owns 4,397 shares of the biotechnology company’s stock valued at $281,000 after purchasing an additional 15,067 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of AnaptysBio during the 1st quarter valued at about $290,000. Finally, United Services Automobile Association boosted its holdings in shares of AnaptysBio by 6.2% during the 4th quarter. United Services Automobile Association now owns 4,647 shares of the biotechnology company’s stock valued at $296,000 after purchasing an additional 271 shares during the last quarter.

About AnaptysBio

AnaptysBio, Inc, a clinical stage biotechnology company, engages in developing antibody product candidates focused on unmet medical needs in inflammation. The company's products include Etokimab, an anti-interleukin (IL)-33 program for the treatment of atopic dermatitis, eosinophilic asthma, and chronic rhinosinusitis with nasal polyps; ANB019, an anti-IL-36 receptor program for generalized pustular psoriasis and palmo-plantar pustular psoriasis; and anti-inflammatory checkpoint modulators for inflammatory diseases.

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