AnaptysBio (NASDAQ:ANAB) Trading Up 11.2% – Still a Buy?

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price was up 11.2% on Monday . The stock traded as high as $63.17 and last traded at $65.47. Approximately 112,561 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 820,397 shares. The stock had previously closed at $58.88.

Analyst Ratings Changes

Several brokerages have issued reports on ANAB. Truist Financial raised AnaptysBio to a “hold” rating in a report on Wednesday, March 25th. Leerink Partners raised their price target on AnaptysBio from $66.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday. Stifel Nicolaus raised their price target on AnaptysBio from $56.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Wall Street Zen raised AnaptysBio from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, January 21st. Ten investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.36.

AnaptysBio Stock Down 0.7%

The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -127.13 and a beta of 0.40. The stock has a 50 day moving average of $60.52 and a 200 day moving average of $49.36.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.69. The business had revenue of $108.25 million during the quarter, compared to the consensus estimate of $87.09 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%. As a group, analysts predict that AnaptysBio, Inc. will post -3.41 EPS for the current fiscal year.

AnaptysBio declared that its board has approved a share buyback plan on Friday, March 27th that authorizes the company to repurchase $100,000.00 billion in shares. This repurchase authorization authorizes the biotechnology company to buy up to 5,352,316.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at AnaptysBio

In related news, insider Eric J. Loumeau sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $54.00, for a total value of $540,000.00. Following the completion of the transaction, the insider owned 12,835 shares of the company’s stock, valued at $693,090. The trade was a 43.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Schmid sold 20,645 shares of the business’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $56.11, for a total value of $1,158,390.95. Following the completion of the transaction, the director directly owned 31,622 shares of the company’s stock, valued at approximately $1,774,310.42. This trade represents a 39.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 48,324 shares of company stock valued at $2,787,594 over the last quarter. 33.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Moran Wealth Management LLC acquired a new position in AnaptysBio during the first quarter worth about $225,000. Ground Swell Capital LLC acquired a new position in AnaptysBio during the first quarter worth about $422,000. SG Americas Securities LLC raised its stake in AnaptysBio by 138.3% during the first quarter. SG Americas Securities LLC now owns 24,851 shares of the biotechnology company’s stock worth $1,378,000 after acquiring an additional 14,423 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in AnaptysBio by 940.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,530 shares of the biotechnology company’s stock worth $74,000 after acquiring an additional 1,383 shares in the last quarter. Finally, Invesco Ltd. raised 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 acquiring an additional 81,625 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.