AnaptysBio (NASDAQ:ANAB) Stock Price Up 7.2% – Here’s What Happened

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price rose 7.2% on Monday . The company traded as high as $45.86 and last traded at $47.8750. Approximately 31,202 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 635,101 shares. The stock had previously closed at $44.67.

Wall Street Analysts Forecast Growth

Several research firms have commented on ANAB. UBS Group initiated coverage on shares of AnaptysBio in a report on Wednesday, January 7th. They issued a “buy” rating and a $70.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $50.00 price target on shares of AnaptysBio in a research report on Monday, November 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, October 8th. HC Wainwright dropped their price objective on shares of AnaptysBio from $52.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Finally, Wells Fargo & Company lifted their target price on shares of AnaptysBio from $51.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, AnaptysBio has an average rating of “Moderate Buy” and a consensus target price of $60.40.

AnaptysBio Trading Up 9.8%

The business has a 50-day moving average price of $42.62 and a 200-day moving average price of $31.57. The stock has a market cap of $1.36 billion, a PE ratio of -17.39 and a beta of 0.32.

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

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

Insider Transactions at AnaptysBio

In other news, insider Paul F. Lizzul sold 3,650 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $44.71, for a total value of $163,191.50. Following the transaction, the insider owned 42,088 shares in the company, valued at $1,881,754.48. This trade represents a 7.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dennis Mulroy sold 2,515 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $44.71, for a total value of $112,445.65. Following the sale, the chief financial officer owned 21,852 shares of the company’s stock, valued at $977,002.92. The trade was a 10.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 135,280 shares of company stock valued at $6,184,409. 33.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its holdings in AnaptysBio by 54.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 473 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of AnaptysBio by 2.7% during the 1st quarter. Rhumbline Advisers now owns 30,903 shares of the biotechnology company’s stock worth $574,000 after purchasing an additional 826 shares during the last quarter. Bessemer Group Inc. grew its position in shares of AnaptysBio by 950.0% in the third quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 1,292 shares in the last quarter. Corton Capital Inc. increased its holdings in shares of AnaptysBio by 12.2% in the second quarter. Corton Capital Inc. now owns 12,004 shares of the biotechnology company’s stock valued at $266,000 after purchasing an additional 1,305 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of AnaptysBio by 175.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 1,377 shares during the last quarter.

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.