AnaptysBio (NASDAQ:ANAB) Reaches New 52-Week High – What’s Next?

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) reached a new 52-week high during trading on Monday . The stock traded as high as $52.00 and last traded at $51.9790, with a volume of 75971 shares traded. The stock had previously closed at $50.10.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ANAB shares. Wall Street Zen upgraded shares of AnaptysBio from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Truist Financial lifted their price target on shares of AnaptysBio from $20.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, October 8th. Guggenheim reaffirmed a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th. Finally, HC Wainwright decreased their target price on AnaptysBio from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, AnaptysBio presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.40.

AnaptysBio Trading Up 3.4%

The stock’s 50 day moving average price is $40.45 and its two-hundred day moving average price is $29.96. The firm has a market capitalization of $1.43 billion, a PE ratio of -18.35 and a beta of 0.28.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $1.58. The firm had revenue of $76.32 million for the quarter, compared to analyst estimates of $15.83 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 49.94%. Analysts expect that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

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

Insider Buying and Selling

In related news, insider Paul F. Lizzul sold 1,500 shares of AnaptysBio stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $50.00, for a total transaction of $75,000.00. Following the completion of the sale, the insider owned 26,967 shares in the company, valued at approximately $1,348,350. This trade represents a 5.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric J. Loumeau sold 10,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $51.00, for a total transaction of $510,000.00. Following the completion of the transaction, the insider directly owned 8,947 shares of the company’s stock, valued at $456,297. The trade was a 52.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 63,766 shares of company stock worth $3,011,004 in the last ninety days. 33.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AnaptysBio

Institutional investors and hedge funds have recently modified their holdings of the company. Nuveen LLC acquired a new stake in AnaptysBio during the first quarter worth approximately $1,041,000. Wellington Management Group LLP lifted its stake in shares of AnaptysBio by 14.4% during the 1st quarter. Wellington Management Group LLP now owns 76,021 shares of the biotechnology company’s stock worth $1,413,000 after purchasing an additional 9,554 shares during the period. Trexquant Investment LP boosted its holdings in shares of AnaptysBio by 152.9% during the first quarter. Trexquant Investment LP now owns 153,563 shares of the biotechnology company’s stock worth $2,855,000 after purchasing an additional 92,843 shares during the last quarter. Caption Management LLC grew its position in shares of AnaptysBio by 106.3% in the first quarter. Caption Management LLC now owns 23,376 shares of the biotechnology company’s stock valued at $435,000 after purchasing an additional 394,634 shares during the period. Finally, PDT Partners LLC purchased a new stake in shares of AnaptysBio in the first quarter valued at $828,000.

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.