AnaptysBio (NASDAQ:ANAB) Lowered to “Hold” Rating by Zacks Research

AnaptysBio (NASDAQ:ANAB) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Weiss Ratings lowered shares of AnaptysBio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Truist Financial raised shares of AnaptysBio to a “hold” rating in a report on Wednesday, March 25th. Barclays raised their price objective on shares of AnaptysBio from $63.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Stifel Nicolaus increased their price objective on shares of AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Leerink Partners set a $90.00 price objective on shares of AnaptysBio in a report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.18.

AnaptysBio Trading Down 0.0%

NASDAQ ANAB opened at $51.24 on Tuesday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -47.44 and a beta of 0.72. The company has a 50 day moving average of $61.36 and a 200-day moving average of $53.76. AnaptysBio has a 1-year low of $11.40 and a 1-year high of $72.36.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($1.20). The firm had revenue of $25.56 million for the quarter, compared to analyst estimates of $18.86 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 11.53%. On average, analysts forecast that AnaptysBio will post -0.93 earnings per share for the current year.

AnaptysBio announced that its Board of Directors has approved a share repurchase program on Friday, March 27th that authorizes the company to buyback $100,000.00 billion in outstanding shares. This buyback authorization authorizes the biotechnology company to reacquire up to 5,352,316.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at AnaptysBio

In other AnaptysBio news, CEO Daniel Faga sold 17,679 shares of the stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $61.61, for a total transaction of $1,089,203.19. Following the sale, the chief executive officer owned 495,965 shares of the company’s stock, valued at $30,556,403.65. This represents a 3.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John P. Schmid sold 20,645 shares of the stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $56.11, for a total transaction of $1,158,390.95. Following the sale, the director directly owned 31,622 shares in the company, valued at approximately $1,774,310.42. This represents a 39.50% decrease in their position. The disclosure for this sale is available in the SEC filing. 33.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Allen Capital Group LLC acquired a new position in AnaptysBio during the 1st quarter valued at about $229,000. Bank of America Corp DE lifted its position in AnaptysBio by 283.2% during the 1st quarter. Bank of America Corp DE now owns 501,086 shares of the biotechnology company’s stock valued at $27,790,000 after purchasing an additional 370,319 shares during the period. ADAR1 Capital Management LLC acquired a new position in AnaptysBio during the 1st quarter valued at about $205,000. Royal Bank of Canada lifted its position in AnaptysBio by 145.6% during the 1st quarter. Royal Bank of Canada now owns 4,219 shares of the biotechnology company’s stock valued at $234,000 after purchasing an additional 2,501 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in AnaptysBio by 78.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 10,166 shares of the biotechnology company’s stock valued at $564,000 after purchasing an additional 4,484 shares during the period.

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.