AnaptysBio (NASDAQ:ANAB) Reaches New 12-Month High – Should You Buy?

AnaptysBio, Inc. (NASDAQ:ANAB) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $57.74 and last traded at $56.4540, with a volume of 76507 shares trading hands. The stock had previously closed at $54.29.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus lowered their target price on AnaptysBio from $80.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of AnaptysBio in a research report on Wednesday, January 21st. UBS Group began coverage on AnaptysBio in a research note on Wednesday, January 7th. They set a “buy” rating and a $70.00 price objective for the company. Barclays raised their price objective on AnaptysBio from $55.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company boosted their target price on shares of AnaptysBio from $51.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.89.

AnaptysBio Trading Up 1.8%

The company has a 50-day moving average of $49.37 and a 200-day moving average of $37.41. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -19.90 and a beta of 0.35.

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

Insider Activity at AnaptysBio

In related news, CFO Dennis Mulroy sold 15,725 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $44.85, for a total value of $705,266.25. Following the completion of the transaction, the chief financial officer owned 9,401 shares in the company, valued at $421,634.85. This trade represents a 62.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric J. Loumeau sold 12,500 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $44.86, for a total value of $560,750.00. Following the sale, the insider owned 9,088 shares in the company, valued at approximately $407,687.68. The trade was a 57.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 156,280 shares of company stock worth $7,254,939. Corporate insiders own 33.50% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in AnaptysBio by 153.3% during the 1st quarter. AQR Capital Management LLC now owns 30,011 shares of the biotechnology company’s stock worth $558,000 after purchasing an additional 18,165 shares during the period. Allianz Asset Management GmbH acquired a new stake in AnaptysBio during the second quarter worth about $337,000. Corton Capital Inc. grew its holdings in AnaptysBio by 12.2% during the second quarter. Corton Capital Inc. now owns 12,004 shares of the biotechnology company’s stock worth $266,000 after acquiring an additional 1,305 shares during the period. Savant Capital LLC purchased a new position in AnaptysBio during the second quarter valued at approximately $241,000. Finally, Los Angeles Capital Management LLC acquired a new position in AnaptysBio in the second quarter valued at approximately $334,000.

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.