AnaptysBio (NASDAQ:ANAB) Trading Up 2.5% – Here’s What Happened

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price was up 2.5% during trading on Friday . The stock traded as high as $19.60 and last traded at $19.12. Approximately 73,353 shares changed hands during trading, a decline of 87% from the average daily volume of 553,883 shares. The stock had previously closed at $18.65.

Analyst Ratings Changes

A number of research firms recently weighed in on ANAB. Wolfe Research began coverage on shares of AnaptysBio in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price objective on the stock. BTIG Research lowered AnaptysBio from a “buy” rating to a “neutral” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. upped their price objective on AnaptysBio from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Truist Financial decreased their target price on AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of AnaptysBio in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.11.

AnaptysBio Stock Performance

The company has a market capitalization of $585.46 million, a P/E ratio of -3.13 and a beta of 0.02. The company’s fifty day simple moving average is $17.08 and its 200-day simple moving average is $22.17.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.61) by $0.89. The firm had revenue of $43.11 million for the quarter, compared to the consensus estimate of $10.17 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. On average, sell-side analysts predict that AnaptysBio, Inc. will post -6.08 EPS for the current year.

AnaptysBio announced that its board has authorized a share repurchase plan on Monday, March 24th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the biotechnology company to purchase up to 13.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other AnaptysBio news, Director Ecor1 Capital, Llc acquired 6,646 shares of the stock in a transaction dated Thursday, January 2nd. The stock was purchased at an average price of $12.95 per share, with a total value of $86,065.70. Following the transaction, the director now directly owns 7,880,094 shares of the company’s stock, valued at $102,047,217.30. This trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 33.70% of the company’s stock.

Institutional Trading of AnaptysBio

Institutional investors have recently bought and sold shares of the stock. Fairmount Funds Management LLC acquired a new stake in shares of AnaptysBio during the fourth quarter worth $24,050,000. Boxer Capital Management LLC acquired a new position in shares of AnaptysBio in the fourth quarter valued at about $17,212,000. Sanofi purchased a new position in shares of AnaptysBio in the fourth quarter worth about $10,882,000. FMR LLC lifted its holdings in shares of AnaptysBio by 15.3% during the third quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock worth $110,857,000 after purchasing an additional 438,557 shares during the period. Finally, Soleus Capital Management L.P. acquired a new position in AnaptysBio in the 4th quarter worth approximately $5,481,000.

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.