AnaptysBio (NASDAQ:ANAB) Stock Price Up 7.2% – Here’s What Happened

AnaptysBio, Inc. (NASDAQ:ANAB) traded up 7.2% on Monday . The stock traded as high as $45.86 and last traded at $47.8750. Approximately 31,202 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 635,101 shares. The stock had previously closed at $44.67.

Wall Street Analysts Forecast Growth

ANAB has been the topic of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of AnaptysBio in a research report on Monday, November 24th. Wall Street Zen raised shares of AnaptysBio from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Barclays reduced their price target on shares of AnaptysBio from $70.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Truist Financial lifted their price target on shares of AnaptysBio from $20.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, November 10th. Finally, UBS Group started coverage on AnaptysBio in a research report on Wednesday, January 7th. They set a “buy” rating and a $70.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AnaptysBio currently has an average rating of “Moderate Buy” and an average target price of $60.40.

AnaptysBio Trading Up 4.4%

The stock has a market capitalization of $1.39 billion, a P/E ratio of -17.82 and a beta of 0.32. The company has a 50-day moving average price of $43.43 and a 200 day moving average price of $32.06.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $1.58. The company had revenue of $76.32 million for the quarter, compared to the consensus estimate of $15.83 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 49.94%. As a group, research analysts expect that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio announced that its Board of Directors has authorized a stock buyback plan on Friday, November 21st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the biotechnology company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Eric J. Loumeau sold 12,500 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $44.86, for a total transaction of $560,750.00. Following the transaction, the insider directly owned 9,088 shares of the company’s stock, valued at $407,687.68. This represents a 57.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul F. Lizzul sold 4,219 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $43.26, for a total value of $182,513.94. Following the completion of the sale, the insider owned 33,303 shares of the company’s stock, valued at approximately $1,440,687.78. This trade represents a 11.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 135,280 shares of company stock valued at $6,184,409. Company insiders own 33.50% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds have recently modified their holdings of ANAB. SG Americas Securities LLC purchased a new position in shares of AnaptysBio in the 4th quarter valued at approximately $506,000. Tudor Investment Corp ET AL increased its stake in AnaptysBio by 47.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 13,869 shares of the biotechnology company’s stock valued at $425,000 after purchasing an additional 4,450 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of AnaptysBio by 2.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 378,452 shares of the biotechnology company’s stock worth $11,588,000 after buying an additional 10,005 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of AnaptysBio during the third quarter worth $315,000. Finally, Larson Financial Group LLC lifted its stake in shares of AnaptysBio by 54.6% during the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after buying an additional 473 shares during the period.

AnaptysBio Company Profile

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.