AnaptysBio (NASDAQ:ANAB) Sets New 1-Year High – What’s Next?

AnaptysBio, Inc. (NASDAQ:ANAB) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $48.35 and last traded at $47.89, with a volume of 251891 shares. The stock had previously closed at $45.69.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of AnaptysBio from $51.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Truist Financial raised their price objective on shares of AnaptysBio from $20.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, November 10th. Barclays decreased their price target on shares of AnaptysBio from $70.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday. Guggenheim reiterated a “buy” rating on shares of AnaptysBio in a research note on Thursday. Finally, Wall Street Zen upgraded AnaptysBio from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.40.

AnaptysBio Price Performance

The firm has a market capitalization of $1.32 billion, a P/E ratio of -16.85 and a beta of 0.29. The firm’s 50 day simple moving average is $38.13 and its two-hundred day simple moving average is $28.60.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $1.58. The business had revenue of $76.32 million for the quarter, compared to analysts’ expectations 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, equities research analysts forecast that AnaptysBio, Inc. will post -6.08 EPS for the current year.

AnaptysBio declared that its Board of Directors has approved a stock repurchase program on Friday, November 21st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the biotechnology company to repurchase up to 9.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other AnaptysBio news, insider Eric J. Loumeau sold 10,000 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $46.00, for a total transaction of $460,000.00. Following the completion of the sale, the insider owned 9,088 shares of the company’s stock, valued at $418,048. This represents a 52.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Dennis Mulroy sold 15,725 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $44.85, for a total transaction of $705,266.25. Following the completion of the sale, the chief financial officer directly owned 9,401 shares in the company, valued at approximately $421,634.85. This trade represents a 62.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,366 shares of company stock valued at $1,732,642 over the last quarter. 33.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AnaptysBio

Large investors have recently made changes to their positions in the business. First Light Asset Management LLC grew its holdings in shares of AnaptysBio by 433.3% during the 1st quarter. First Light Asset Management LLC now owns 4,633,602 shares of the biotechnology company’s stock worth $86,139,000 after acquiring an additional 3,764,720 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of AnaptysBio by 4,852.7% during the third quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock valued at $25,719,000 after purchasing an additional 822,975 shares in the last quarter. Caption Management LLC grew its stake in AnaptysBio by 106.3% in the first quarter. Caption Management LLC now owns 23,376 shares of the biotechnology company’s stock worth $435,000 after purchasing an additional 394,634 shares during the period. Woodline Partners LP raised its holdings in AnaptysBio by 63.1% in the first quarter. Woodline Partners LP now owns 791,023 shares of the biotechnology company’s stock worth $14,705,000 after purchasing an additional 305,950 shares in the last quarter. Finally, 683 Capital Management LLC lifted its position in AnaptysBio by 155.6% during the second quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock valued at $11,100,000 after buying an additional 304,373 shares during the period.

About AnaptysBio

AnaptysBio, Inc, a clinical-stage biotechnology company, focuses in delivering immunology therapeutics. Its products include Rosnilimab, an IgG1 antibody that targets PD-1+ T cells, resulting in their agonism or depletion, broadly impacting pathogenic drivers of autoimmune and inflammatory diseases; and ANB032, a non-depleting antibody that binds to the BTLA checkpoint receptor and inhibits activated T cell proliferation; ANB033, a novel anti-CD122 antagonist antibody that targets the shared common beta subunit of the receptors for IL-15 and IL-2; ANB101, a BDCA2 modulator antibody that specifically targets plasmacytoid dendritic cells (pDCs); and Imsidolimab, an antibody that inhibits the interleukin-36 receptor, which is in the Phase 3 development for the treatment of generalized pustular psoriasis.