Dennis Mulroy Sells 3,363 Shares of AnaptysBio (NASDAQ:ANAB) Stock

AnaptysBio, Inc. (NASDAQ:ANAB) CFO Dennis Mulroy sold 3,363 shares of AnaptysBio stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $43.26, for a total value of $145,483.38. Following the transaction, the chief financial officer owned 14,330 shares in the company, valued at approximately $619,915.80. This represents a 19.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Dennis Mulroy also recently made the following trade(s):

• On Monday, December 22nd, Dennis Mulroy sold 10,000 shares of AnaptysBio stock. The stock was sold at an average price of $50.00, for a total value of $500,000.00.
• On Tuesday, December 16th, Dennis Mulroy sold 15,725 shares of AnaptysBio stock. The stock was sold at an average price of $44.85, for a total value of $705,266.25.

AnaptysBio Trading Up 1.6%

Shares of NASDAQ:ANAB traded up $0.71 during trading on Tuesday, hitting $43.91. 466,030 shares of the company’s stock traded hands, compared to its average volume of 381,205. The company has a 50-day moving average price of $42.13 and a 200-day moving average price of $31.12. AnaptysBio, Inc. has a 52 week low of $12.21 and a 52 week high of $52.47. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -15.57 and a beta of 0.32.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $1.58. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 49.94%.The business had revenue of $76.32 million during the quarter, compared to analysts’ expectations of $15.83 million. On average, analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio announced that its Board of Directors has approved a share repurchase program on Friday, November 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the biotechnology company to purchase up to 9.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in shares of AnaptysBio by 153.3% during the 1st quarter. AQR Capital Management LLC now owns 30,011 shares of the biotechnology company’s stock worth $558,000 after purchasing an additional 18,165 shares in the last quarter. Exome Asset Management LLC acquired a new position in AnaptysBio during the first quarter worth $2,168,000. Woodline Partners LP raised its position in AnaptysBio by 63.1% during the first quarter. Woodline Partners LP now owns 791,023 shares of the biotechnology company’s stock worth $14,705,000 after acquiring an additional 305,950 shares in the last quarter. Rhumbline Advisers raised its position in AnaptysBio by 2.7% during the first quarter. Rhumbline Advisers now owns 30,903 shares of the biotechnology company’s stock worth $574,000 after acquiring an additional 826 shares in the last quarter. Finally, Voya Investment Management LLC acquired a new stake in AnaptysBio in the first quarter valued at $1,803,000.

Analyst Upgrades and Downgrades

ANAB has been the subject of a number of research reports. Wells Fargo & Company increased their target price on AnaptysBio from $51.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Barclays reduced their price objective on AnaptysBio from $70.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Truist Financial lifted their target price on AnaptysBio from $20.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, November 10th. Guggenheim restated a “buy” rating on shares of AnaptysBio in a research note on Thursday, December 18th. Finally, Wall Street Zen raised AnaptysBio from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.40.

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.