AnaptysBio (NASDAQ:ANAB) Shares Up 2.5% – Here’s Why

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. BTIG Research lowered shares of AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. Wedbush reiterated an “outperform” rating and issued a $40.00 price target on shares of AnaptysBio in a research note on Wednesday, February 12th. Truist Financial dropped their price objective on shares of AnaptysBio from $30.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Guggenheim reiterated a “buy” rating on shares of AnaptysBio in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. lifted their price target on AnaptysBio from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.11.

AnaptysBio Price Performance

The company has a market cap of $581.14 million, a PE ratio of -3.12 and a beta of 0.02. The stock has a 50 day simple moving average of $17.14 and a two-hundred day simple moving average of $21.96.

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

AnaptysBio announced that its board has approved a stock buyback program on Monday, March 24th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the biotechnology company to buy up to 13.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at AnaptysBio

In other AnaptysBio news, Director Ecor1 Capital, Llc acquired 65,184 shares of the stock in a transaction on Monday, December 30th. The shares were bought at an average price of $12.92 per share, with a total value of $842,177.28. Following the acquisition, the director now owns 7,860,180 shares of the company’s stock, valued at $101,553,525.60. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 33.70% of the company’s stock.

Institutional Trading of AnaptysBio

Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in AnaptysBio by 131.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 1,531 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of AnaptysBio during the 4th quarter worth $40,000. AlphaQuest LLC increased its holdings in shares of AnaptysBio by 1,891.5% in the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 4,237 shares in the last quarter. Virtus ETF Advisers LLC increased its holdings in shares of AnaptysBio by 24.7% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 936 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of AnaptysBio by 1,585.8% in the fourth quarter. Russell Investments Group Ltd. now owns 5,698 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 5,360 shares during the period.

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.