AnaptysBio (NASDAQ:ANAB) Sets New 52-Week High Following Analyst Upgrade

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price hit a new 52-week high during mid-day trading on Tuesday after UBS Group raised their price target on the stock from $70.00 to $90.00. UBS Group currently has a buy rating on the stock. AnaptysBio traded as high as $66.73 and last traded at $64.78, with a volume of 413489 shares traded. The stock had previously closed at $64.81.

Several other research analysts have also commented on ANAB. Truist Financial increased their price target on shares of AnaptysBio from $36.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, March 6th. Stifel Nicolaus lifted their price objective on shares of AnaptysBio from $56.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Guggenheim reiterated a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th. Wedbush increased their target price on shares of AnaptysBio from $60.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, March 12th. Finally, Barclays raised their target price on AnaptysBio from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $78.44.

Insider Buying and Selling at AnaptysBio

In related news, insider Paul F. Lizzul sold 4,219 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $43.26, for a total value of $182,513.94. Following the completion of the sale, the insider owned 33,303 shares in the company, valued at approximately $1,440,687.78. This trade represents a 11.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric J. Loumeau sold 10,000 shares of AnaptysBio stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $51.00, for a total value of $510,000.00. Following the sale, the insider directly owned 8,947 shares in the company, valued at approximately $456,297. This trade represents a 52.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 117,914 shares of company stock valued at $5,522,297 in the last three months. Company insiders own 33.50% of the company’s stock.

Institutional Trading of AnaptysBio

A number of institutional investors and hedge funds have recently modified their holdings of the company. Federated Hermes Inc. lifted its position in AnaptysBio by 2,236.6% in the third quarter. Federated Hermes Inc. now owns 193,327 shares of the biotechnology company’s stock worth $5,920,000 after purchasing an additional 185,053 shares during the period. Panagora Asset Management Inc. acquired a new stake in AnaptysBio during the second quarter worth $741,000. Assenagon Asset Management S.A. increased its holdings in AnaptysBio by 4,852.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock valued at $25,719,000 after buying an additional 822,975 shares during the period. 683 Capital Management LLC raised its stake in shares of AnaptysBio by 155.6% in the 2nd quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock valued at $11,100,000 after buying an additional 304,373 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of AnaptysBio in the 2nd quarter valued at $680,000.

AnaptysBio Trading Down 3.8%

The business’s fifty day moving average price is $53.04 and its 200 day moving average price is $41.61. The company has a market capitalization of $1.86 billion, a P/E ratio of -124.46 and a beta of 0.32.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share for the quarter, beating 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 analysts’ expectations of $87.09 million. Equities research analysts anticipate that AnaptysBio, Inc. will post -6.08 EPS for the current year.

AnaptysBio announced that its board has authorized a share repurchase plan on Friday, November 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the biotechnology company to purchase up to 9.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are 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.