AnaptysBio (NASDAQ:ANAB) Trading Up 7.6% – Still a Buy?

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) rose 7.6% during trading on Monday . The stock traded as high as $62.26 and last traded at $62.0740. Approximately 64,363 shares were traded during trading, a decline of 88% from the average daily volume of 548,428 shares. The stock had previously closed at $57.68.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wedbush boosted their target price on AnaptysBio from $60.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, March 12th. UBS Group increased their target price on shares of AnaptysBio from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Piper Sandler lifted their price target on shares of AnaptysBio from $67.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Weiss Ratings restated a “sell (d-)” rating on shares of AnaptysBio in a research note on Wednesday, January 21st. Finally, HC Wainwright reiterated a “buy” rating and set a $66.00 target price on shares of AnaptysBio in a report on Monday, March 30th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.10.

AnaptysBio Stock Performance

The business has a 50-day moving average of $56.29 and a 200-day moving average of $45.03. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -120.49 and a beta of 0.40.

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

AnaptysBio declared that its Board of Directors has initiated a stock buyback plan on Friday, March 27th that authorizes the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization authorizes the biotechnology company to buy up to 5,352,316.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other AnaptysBio news, Director Magda Marquet sold 11,000 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $48.23, for a total transaction of $530,530.00. Following the completion of the transaction, the director owned 9,930 shares in the company, valued at approximately $478,923.90. This represents a 52.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul F. Lizzul sold 3,650 shares of the firm’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $44.71, for a total transaction of $163,191.50. Following the completion of the sale, the insider owned 42,088 shares of the company’s stock, valued at $1,881,754.48. This trade represents a 7.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 104,964 shares of company stock worth $5,372,220. 33.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AnaptysBio

Institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its holdings in shares of AnaptysBio by 5,864.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 821 shares during the period. Larson Financial Group LLC raised its position in AnaptysBio by 54.6% in the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 473 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in AnaptysBio by 24.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,345 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 263 shares during the period. Bessemer Group Inc. boosted its position in shares of AnaptysBio by 950.0% during the 3rd quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 1,292 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 in the last quarter.

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.