Insider Selling: AnaptysBio (NASDAQ:ANAB) Director Sells $1,158,390.95 in Stock

AnaptysBio, Inc. (NASDAQ:ANAB) Director John Schmid sold 20,645 shares of AnaptysBio stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $56.11, for a total value of $1,158,390.95. Following the transaction, the director owned 31,622 shares in the company, valued at approximately $1,774,310.42. The trade was a 39.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

AnaptysBio Price Performance

Shares of NASDAQ:ANAB opened at $57.68 on Friday. AnaptysBio, Inc. has a 52-week low of $15.40 and a 52-week high of $68.39. The stock has a market cap of $1.66 billion, a P/E ratio of -110.92 and a beta of 0.40. The business has a fifty day moving average of $56.29 and a two-hundred day moving average of $44.86.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, topping the consensus estimate of $0.89 by $0.69. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%.The business had revenue of $108.25 million for the quarter, compared to analyst estimates of $87.09 million. On average, equities analysts anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio declared that its Board of Directors has approved a share repurchase program on Friday, March 27th that permits the company to buyback $100,000.00 billion in outstanding shares. This buyback authorization permits the biotechnology company to purchase up to 5,352,316.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On AnaptysBio

Several large investors have recently made changes to their positions in ANAB. Caitong International Asset Management Co. Ltd increased its holdings in 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 valued at $74,000 after purchasing an additional 1,383 shares during the last quarter. Invesco Ltd. lifted its stake in AnaptysBio by 192.6% during the fourth quarter. Invesco Ltd. now owns 124,006 shares of the biotechnology company’s stock worth $6,012,000 after purchasing an additional 81,625 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of AnaptysBio during the fourth quarter worth $1,166,000. XTX Topco Ltd boosted its position in shares of AnaptysBio by 113.3% during the fourth quarter. XTX Topco Ltd now owns 38,637 shares of the biotechnology company’s stock worth $1,873,000 after buying an additional 20,526 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of AnaptysBio in the fourth quarter valued at $215,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ANAB shares. HC Wainwright restated a “buy” rating and set a $66.00 price target on shares of AnaptysBio in a report on Monday, March 30th. Piper Sandler increased their price objective on AnaptysBio from $67.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. UBS Group raised their target price on AnaptysBio from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Stifel Nicolaus lifted their target price on AnaptysBio from $56.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen lowered AnaptysBio from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.10.

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.