AnaptysBio (NASDAQ:ANAB) Hits New 1-Year High – Time to Buy?

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) reached a new 52-week high during trading on Thursday . The stock traded as high as $68.62 and last traded at $68.07, with a volume of 149613 shares changing hands. The stock had previously closed at $65.54.

Analyst Ratings Changes

ANAB has been the topic of several recent analyst reports. Guggenheim reissued a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th. UBS Group raised their target price on shares of AnaptysBio from $70.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Wall Street Zen lowered shares of AnaptysBio from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, January 21st. Finally, Piper Sandler lifted their price target on shares of AnaptysBio from $67.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Nine 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, the company has a consensus rating of “Moderate Buy” and an average target price of $80.10.

AnaptysBio Stock Up 3.6%

The stock’s fifty day moving average price is $57.20 and its 200 day moving average price is $45.75. The stock has a market cap of $1.95 billion, a PE ratio of -131.51 and a beta of 0.40.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.69. The business had revenue of $108.25 million for the quarter, compared to analysts’ expectations of $87.09 million. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. On average, equities research analysts expect that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio announced that its Board of Directors has approved a stock buyback plan on Friday, March 27th that permits the company to buyback $100,000.00 billion in outstanding shares. This buyback authorization permits the biotechnology company to repurchase up to 5,352,316.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at AnaptysBio

In other news, CEO Daniel Faga sold 17,679 shares of the business’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $61.61, for a total value of $1,089,203.19. Following the sale, the chief executive officer directly owned 495,965 shares in the company, valued at $30,556,403.65. The trade was a 3.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Magda Marquet sold 11,000 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $48.23, for a total transaction of $530,530.00. Following the completion of the sale, the director owned 9,930 shares in the company, valued at approximately $478,923.90. This trade represents a 52.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 59,324 shares of company stock valued at $3,318,124. 33.50% of the stock is currently owned by insiders.

Institutional Trading of AnaptysBio

Large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted 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 worth $40,000 after purchasing an additional 821 shares during the period. Larson Financial Group LLC boosted its stake in shares of AnaptysBio by 54.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 473 shares during the period. Bessemer Group Inc. boosted its stake in shares of AnaptysBio by 950.0% during the 3rd quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 1,292 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of AnaptysBio by 175.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 1,377 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in shares of AnaptysBio by 11,630.0% during the 2nd quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 2,326 shares during the period.

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.