AnaptysBio (NASDAQ:ANAB) Trading Up 11.1% – Here’s What Happened

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) rose 11.1% on Monday . The company traded as high as $24.83 and last traded at $24.74. Approximately 420,991 shares traded hands during trading, an increase of 20% from the average daily volume of 352,087 shares. The stock had previously closed at $22.27.

Analyst Ratings Changes

ANAB has been the subject of several recent research reports. Truist Financial upped their price target on AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Wedbush restated an “outperform” rating and issued a $42.00 target price on shares of AnaptysBio in a research note on Thursday, November 14th. UBS Group raised their target price on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. HC Wainwright lowered their price target on shares of AnaptysBio from $55.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Guggenheim raised their price objective on shares of AnaptysBio from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.64.

AnaptysBio Stock Down 0.5 %

The stock has a market capitalization of $764.40 million, a price-to-earnings ratio of -4.13 and a beta of -0.24. The stock’s 50-day simple moving average is $28.65 and its 200 day simple moving average is $29.71.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, topping analysts’ consensus estimates of ($1.72) by $0.58. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The business had revenue of $30.02 million for the quarter, compared to analyst estimates of $7.92 million. As a group, equities research analysts anticipate that AnaptysBio, Inc. will post -6.02 earnings per share for the current year.

Insider Transactions at AnaptysBio

In related news, insider Eric J. Loumeau sold 8,720 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $39.82, for a total value of $347,230.40. Following the completion of the sale, the insider now owns 7,020 shares of the company’s stock, valued at $279,536.40. This trade represents a 55.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Dennis Mulroy sold 12,220 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $39.91, for a total value of $487,700.20. Following the transaction, the chief financial officer now directly owns 4,744 shares in the company, valued at approximately $189,333.04. This represents a 72.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,440 shares of company stock worth $892,936. Insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds have recently added to or reduced their stakes in ANAB. Barclays PLC raised its holdings in AnaptysBio by 117.4% during the 3rd quarter. Barclays PLC now owns 44,300 shares of the biotechnology company’s stock worth $1,486,000 after purchasing an additional 23,926 shares during the last quarter. Geode Capital Management LLC grew its position in shares of AnaptysBio by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 465,401 shares of the biotechnology company’s stock worth $15,594,000 after buying an additional 13,336 shares during the period. Frazier Life Sciences Management L.P. raised its stake in shares of AnaptysBio by 2.0% during the third quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company’s stock worth $74,008,000 after buying an additional 43,598 shares during the last quarter. XTX Topco Ltd raised its stake in shares of AnaptysBio by 49.1% during the third quarter. XTX Topco Ltd now owns 20,286 shares of the biotechnology company’s stock worth $680,000 after buying an additional 6,683 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in AnaptysBio by 4.8% in the third quarter. Wellington Management Group LLP now owns 65,939 shares of the biotechnology company’s stock valued at $2,209,000 after acquiring an additional 3,048 shares during the last quarter.

AnaptysBio Company Profile

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.