AnaptysBio (NASDAQ:ANAB) Stock Price Up 5.4% – What’s Next?

AnaptysBio, Inc. (NASDAQ:ANAB) rose 5.4% during mid-day trading on Wednesday. The company traded as high as $47.88 and last traded at $47.8890. 39,486 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 683,004 shares. The stock had previously closed at $45.43.

Analysts Set New Price Targets

A number of analysts recently issued reports on ANAB shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of AnaptysBio in a report on Tuesday, September 22nd. HC Wainwright reissued a “buy” rating and issued a $95.00 price objective on shares of AnaptysBio in a report on Tuesday, September 22nd. Scotiabank lowered AnaptysBio to a “hold” rating and set a $70.00 price objective on the stock. in a research report on Tuesday, August 25th. TD Cowen cut their target price on AnaptysBio from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, August 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of AnaptysBio from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.79.

AnaptysBio Price Performance

The company has a market cap of $1.44 billion, a price-to-earnings ratio of 319.60 and a beta of 0.76. The firm has a fifty day simple moving average of $52.87 and a 200 day simple moving average of $57.20.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Monday, September 21st. The biotechnology company reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $5.57. The firm had revenue of $27.49 million during the quarter, compared to analysts’ expectations of $14.06 million. AnaptysBio had a net margin of 82.37% and a return on equity of 112.00%. During the same quarter last year, the company earned ($1.30) earnings per share. Analysts expect that AnaptysBio, Inc. will post -1.30 earnings per share for the current year.

Insider Buying and Selling

In other AnaptysBio news, Director Hollings Renton sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $49.87, for a total transaction of $249,350.00. Following the transaction, the director owned 10,995 shares in the company, valued at $548,320.65. This trade represents a 31.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 31.50% of the company’s stock.

Institutional Trading of AnaptysBio

A number of hedge funds and other institutional investors have recently modified their holdings of ANAB. Tema ETFs LLC raised its stake in AnaptysBio by 0.6% during the second quarter. Tema ETFs LLC now owns 31,270 shares of the biotechnology company’s stock worth $2,111,000 after buying an additional 201 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of AnaptysBio by 13.5% in the 2nd quarter. Arizona State Retirement System now owns 4,363 shares of the biotechnology company’s stock worth $295,000 after purchasing an additional 518 shares in the last quarter. Persistent Asset Partners Ltd bought a new stake in AnaptysBio during the 2nd quarter worth approximately $39,000. Sterling Capital Management LLC increased its position in shares of AnaptysBio by 847.8% during the third quarter. Sterling Capital Management LLC now owns 654 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 585 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of AnaptysBio by 940.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,530 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 1,383 shares during the period.

About AnaptysBio

AnaptysBio, Inc is a clinical-stage biotechnology company focused on developing antibody-based medicines for immune-mediated diseases. The company uses its proprietary antibody discovery and engineering platform to identify therapeutics designed to modulate immune-system pathways involved in inflammation and autoimmune disorders.

AnaptysBio’s pipeline has included rosnilimab, an investigational antibody designed to activate the PD-1 immune checkpoint pathway, and imsidolimab, an investigational antibody targeting the interleukin-36 receptor.