AnaptysBio, Inc. (NASDAQ:ANAB) Receives $66.89 Consensus Target Price from Brokerages

AnaptysBio, Inc. (NASDAQ:ANAB) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $66.8889.

Several equities research analysts have recently weighed in on ANAB shares. Truist Financial increased their price target on AnaptysBio from $20.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, November 10th. Barclays boosted their price target on shares of AnaptysBio from $55.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Guggenheim reiterated a “buy” rating on shares of AnaptysBio in a research report on Thursday, December 18th. Weiss Ratings restated a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, January 21st. Finally, Wedbush reiterated an “outperform” rating and set a $50.00 price target on shares of AnaptysBio in a report on Monday, November 24th.

Insiders Place Their Bets

In related news, CEO Daniel Faga sold 15,309 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $43.26, for a total transaction of $662,267.34. Following the transaction, the chief executive officer owned 458,139 shares in the company, valued at $19,819,093.14. The trade was a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dennis Mulroy sold 15,725 shares of the 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 transaction, the chief financial officer directly owned 9,401 shares in the company, valued at approximately $421,634.85. This represents a 62.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 146,280 shares of company stock valued at $6,714,939 in the last ninety days. 33.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AnaptysBio

Several institutional investors have recently made changes to their positions in ANAB. Larson Financial Group LLC grew its stake in shares of AnaptysBio by 54.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 473 shares during the period. Bessemer Group Inc. boosted its holdings in AnaptysBio by 950.0% in the third quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 1,292 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in AnaptysBio by 175.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 1,377 shares in the last quarter. Osaic Holdings Inc. grew its stake in AnaptysBio by 11,630.0% in the second quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 2,326 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of AnaptysBio by 24.3% during 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 in the last quarter.

AnaptysBio Price Performance

ANAB opened at $54.90 on Tuesday. AnaptysBio has a fifty-two week low of $13.99 and a fifty-two week high of $56.39. The company’s 50 day moving average price is $47.68 and its two-hundred day moving average price is $35.41. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -19.47 and a beta of 0.35.

AnaptysBio announced that its Board of Directors has authorized a share buyback program on Friday, November 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the biotechnology company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.