AnaptysBio (NASDAQ:ANAB) Reaches New 52-Week High – Should You Buy?

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $65.44 and last traded at $64.8750, with a volume of 119160 shares. The stock had previously closed at $62.01.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wedbush lifted their target price on AnaptysBio from $60.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday. Truist Financial upped their price target on AnaptysBio from $36.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, March 6th. Stifel Nicolaus raised their price objective on AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Wall Street Zen cut AnaptysBio from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, 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. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AnaptysBio presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.22.

AnaptysBio Trading Up 2.5%

The firm has a market cap of $1.88 billion, a PE ratio of -125.27 and a beta of 0.32. The stock has a 50 day simple moving average of $51.35 and a 200-day simple moving average of $40.21.

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

AnaptysBio declared that its board has authorized a stock buyback plan on Friday, November 21st that authorizes the company to buyback $100.00 million in 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 board believes its stock is undervalued.

Insider Transactions at AnaptysBio

In other news, Director Magda Marquet sold 11,000 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 9,930 shares in the company, valued at approximately $478,923.90. This represents a 52.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric J. Loumeau sold 12,500 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $44.86, for a total transaction of $560,750.00. Following the completion of the sale, the insider owned 9,088 shares in the company, valued at $407,687.68. This represents a 57.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 156,280 shares of company stock worth $7,254,939. 33.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AnaptysBio

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of AnaptysBio by 940.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,530 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 1,383 shares during the last quarter. Invesco Ltd. increased its position in shares of AnaptysBio by 192.6% during the 4th quarter. Invesco Ltd. now owns 124,006 shares of the biotechnology company’s stock valued at $6,012,000 after purchasing an additional 81,625 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in AnaptysBio during the 4th quarter valued at $1,166,000. XTX Topco Ltd raised its holdings in AnaptysBio by 113.3% during the 4th quarter. XTX Topco Ltd now owns 38,637 shares of the biotechnology company’s stock valued at $1,873,000 after buying an additional 20,526 shares during the period. Finally, nVerses Capital LLC bought a new stake in AnaptysBio in the fourth quarter worth $215,000.

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.