AnaptysBio (NASDAQ:ANAB) Insider Sells $540,000.00 in Stock

AnaptysBio, Inc. (NASDAQ:ANAB) insider Eric Loumeau sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.00, for a total value of $540,000.00. Following the transaction, the insider directly owned 12,835 shares of the company’s stock, valued at $693,090. The trade was a 43.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

AnaptysBio Stock Down 3.3%

ANAB opened at $53.08 on Monday. The firm has a market cap of $1.47 billion, a P/E ratio of -18.82 and a beta of 0.35. The business’s fifty day simple moving average is $47.85 and its 200 day simple moving average is $35.73. AnaptysBio, Inc. has a 52 week low of $13.99 and a 52 week high of $57.65.

AnaptysBio declared that its board has authorized a share repurchase plan on Friday, November 21st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the biotechnology company to reacquire up to 9.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On AnaptysBio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in shares of AnaptysBio by 153.3% in the 1st quarter. AQR Capital Management LLC now owns 30,011 shares of the biotechnology company’s stock valued at $558,000 after purchasing an additional 18,165 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in AnaptysBio in the second quarter valued at approximately $337,000. Bleakley Financial Group LLC purchased a new position in AnaptysBio in the second quarter valued at approximately $834,000. Corton Capital Inc. lifted its position in AnaptysBio by 12.2% during the second quarter. Corton Capital Inc. now owns 12,004 shares of the biotechnology company’s stock valued at $266,000 after buying an additional 1,305 shares in the last quarter. Finally, Savant Capital LLC purchased a new stake in AnaptysBio during the second quarter worth approximately $241,000.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays lifted their target price on shares of AnaptysBio from $55.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Wells Fargo & Company lifted their price objective on AnaptysBio from $51.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Wedbush reiterated an “outperform” rating and set a $50.00 target price on shares of AnaptysBio in a research report on Monday, November 24th. Truist Financial lifted their price target on AnaptysBio from $20.00 to $36.00 and gave the company a “hold” rating in a report on Monday, November 10th. Finally, Stifel Nicolaus dropped their price objective on shares of AnaptysBio from $80.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.89.

About AnaptysBio

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.