AnaptysBio (NASDAQ:ANAB) Insider Sells $540,000.00 in Stock

AnaptysBio, Inc. (NASDAQ:ANAB) insider Eric Loumeau sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $54.00, for a total transaction of $540,000.00. Following the completion of the transaction, the insider owned 12,835 shares of the company’s stock, valued at approximately $693,090. The trade was a 43.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AnaptysBio Trading Down 3.3%

ANAB traded down $1.82 during trading on Friday, hitting $53.08. 565,165 shares of the company’s stock traded hands, compared to its average volume of 514,052. The company’s 50 day simple moving average is $47.68 and its two-hundred day simple moving average is $35.41. AnaptysBio, Inc. has a 12-month low of $13.99 and a 12-month high of $57.65. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -18.82 and a beta of 0.35.

AnaptysBio announced that its board has approved a stock repurchase plan on Friday, November 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the biotechnology company to purchase up to 9.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC lifted its position in shares of AnaptysBio by 1.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 15,101 shares of the biotechnology company’s stock valued at $732,000 after buying an additional 225 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 worth $65,000 after purchasing an additional 263 shares during the period. Larson Financial Group LLC increased its stake in shares of AnaptysBio by 21.2% in the fourth quarter. Larson Financial Group LLC now owns 1,624 shares of the biotechnology company’s stock worth $79,000 after purchasing an additional 284 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of AnaptysBio by 5,864.3% during 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 in the last quarter. Finally, Orion Porfolio Solutions LLC boosted its holdings in AnaptysBio by 7.0% in the 4th quarter. Orion Porfolio Solutions LLC now owns 14,697 shares of the biotechnology company’s stock worth $713,000 after buying an additional 958 shares during the period.

Wall Street Analyst Weigh In

Several research firms have issued reports on ANAB. Wells Fargo & Company upped their target price on shares of AnaptysBio from $51.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. UBS Group initiated coverage on shares of AnaptysBio in a report on Wednesday, January 7th. They issued a “buy” rating and a $70.00 target price on the stock. Wall Street Zen lowered shares of AnaptysBio from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Stifel Nicolaus lowered their price target on AnaptysBio from $80.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, January 21st. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.89.

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.