AnaptysBio (NASDAQ:ANAB) Announces Quarterly Earnings Results

AnaptysBio (NASDAQ:ANAB) posted its quarterly earnings data on Tuesday. The biotechnology company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($1.20), FiscalAI reports. The company had revenue of $25.56 million for the quarter, compared to analyst estimates of $18.86 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 11.53%.

AnaptysBio Stock Performance

Shares of NASDAQ ANAB opened at $62.69 on Thursday. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -58.05 and a beta of 0.79. The business has a 50 day simple moving average of $62.56 and a 200 day simple moving average of $51.42. AnaptysBio has a 52 week low of $11.40 and a 52 week high of $72.36.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ANAB shares. Zacks Research upgraded AnaptysBio from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. UBS Group boosted their price objective on AnaptysBio from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush boosted their price objective on AnaptysBio from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, March 12th. Piper Sandler cut their price objective on AnaptysBio from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.73.

Insider Activity at AnaptysBio

In related news, CEO Daniel Faga sold 17,679 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $61.61, for a total value of $1,089,203.19. Following the completion of the sale, the chief executive officer owned 495,965 shares of the company’s stock, valued at approximately $30,556,403.65. The trade was a 3.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John P. Schmid sold 20,645 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 31,622 shares of the company’s stock, valued at approximately $1,774,310.42. The trade was a 39.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 33.50% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Several large investors have recently made changes to their positions in ANAB. Affinity Asset Advisors LLC bought a new stake in shares of AnaptysBio in the 4th quarter valued at approximately $21,559,000. JPMorgan Chase & Co. grew its stake in shares of AnaptysBio by 1,631.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock valued at $5,497,000 after buying an additional 233,325 shares in the last quarter. Voloridge Investment Management LLC grew its stake in shares of AnaptysBio by 2,358.3% in the 4th quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company’s stock valued at $11,109,000 after buying an additional 219,816 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of AnaptysBio by 145.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 370,458 shares of the biotechnology company’s stock valued at $11,343,000 after buying an additional 219,648 shares in the last quarter. Finally, Soleus Capital Management L.P. lifted its holdings in AnaptysBio by 214.6% in the 2nd quarter. Soleus Capital Management L.P. now owns 321,040 shares of the biotechnology company’s stock worth $7,127,000 after purchasing an additional 218,988 shares during the last quarter.

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

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.