AnaptysBio, Inc. (NASDAQ:ANAB) Receives $80.10 Average PT from Brokerages

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $80.10.

ANAB has been the subject of several recent analyst reports. Wedbush raised their price objective on shares of AnaptysBio from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a research report on Wednesday, January 21st. Stifel Nicolaus lifted their price target on AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Truist Financial raised AnaptysBio to a “hold” rating in a report on Wednesday, March 25th. Finally, Guggenheim restated a “buy” rating on shares of AnaptysBio in a research note on Thursday, December 18th.

Insider Buying and Selling at AnaptysBio

In other AnaptysBio news, CFO Dennis Mulroy sold 2,515 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $44.71, for a total value of $112,445.65. Following the sale, the chief financial officer directly owned 21,852 shares of the company’s stock, valued at $977,002.92. This trade represents a 10.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel Faga sold 17,679 shares of the stock in a transaction on Friday, March 27th. The stock was sold at an average price of $61.61, for a total value of $1,089,203.19. Following the completion of the sale, the chief executive officer directly owned 495,965 shares in the company, valued at $30,556,403.65. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 104,964 shares of company stock worth $5,372,220. 33.50% of the stock is owned by insiders.

Hedge Funds Weigh In On AnaptysBio

Several institutional investors have recently modified their holdings of ANAB. Assenagon Asset Management S.A. raised its stake 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. Affinity Asset Advisors LLC bought a new stake in shares of AnaptysBio in the 4th quarter worth $21,559,000. 683 Capital Management LLC lifted its holdings in shares of AnaptysBio by 155.6% in 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. JPMorgan Chase & Co. boosted its stake in AnaptysBio by 1,631.6% during the second quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock valued at $5,497,000 after buying an additional 233,325 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its stake in AnaptysBio by 2,358.3% during the fourth quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company’s stock valued at $11,109,000 after buying an additional 219,816 shares in the last quarter.

AnaptysBio Stock Performance

NASDAQ:ANAB opened at $57.68 on Wednesday. AnaptysBio has a one year low of $15.40 and a one year high of $68.39. The business’s 50-day simple moving average is $56.29 and its 200 day simple moving average is $45.03. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -110.92 and a beta of 0.40.

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

AnaptysBio announced that its Board of Directors has authorized a share buyback plan on Friday, March 27th that permits the company to repurchase $100,000.00 billion in shares. This repurchase authorization permits the biotechnology company to purchase up to 5,352,316.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

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.