AnaptysBio (NASDAQ:ANAB) Sets New 52-Week High Following Analyst Upgrade

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) reached a new 52-week high during trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $72.36 and last traded at $70.04, with a volume of 86029 shares changing hands. The stock had previously closed at $69.78.

A number of other research firms have also commented on ANAB. Stifel Nicolaus upped their price objective on shares of AnaptysBio from $56.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Barclays reduced their price objective on shares of AnaptysBio from $79.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Truist Financial upgraded AnaptysBio to a “hold” rating in a report on Wednesday, March 25th. Piper Sandler dropped their target price on AnaptysBio from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Monday. Finally, UBS Group dropped their target price on AnaptysBio from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. One equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat, AnaptysBio has an average rating of “Moderate Buy” and an average price target of $76.18.

Insider Buying and Selling

In related news, insider Eric J. Loumeau sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $54.00, for a total value of $540,000.00. Following the transaction, the insider owned 12,835 shares in the company, valued at approximately $693,090. This represents a 43.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John P. Schmid sold 20,645 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $56.11, for a total value of $1,158,390.95. Following the completion of the transaction, the director owned 31,622 shares in the company, valued at $1,774,310.42. This represents a 39.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 48,324 shares of company stock worth $2,787,594. Insiders own 33.50% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

A number of hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its holdings in AnaptysBio by 1.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 15,101 shares of the biotechnology company’s stock worth $732,000 after buying an additional 225 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in AnaptysBio by 24.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,345 shares of the biotechnology company’s stock worth $65,000 after buying an additional 263 shares during the last quarter. Larson Financial Group LLC boosted its position in AnaptysBio by 21.2% during the fourth quarter. Larson Financial Group LLC now owns 1,624 shares of the biotechnology company’s stock worth $79,000 after purchasing an additional 284 shares during the period. Susquehanna Portfolio Strategies LLC boosted its position in AnaptysBio by 1.4% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 35,948 shares of the biotechnology company’s stock worth $1,743,000 after purchasing an additional 500 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in AnaptysBio by 5,864.3% during the fourth 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.

AnaptysBio Stock Down 0.6%

The stock has a market cap of $1.95 billion, a P/E ratio of -128.77 and a beta of 0.79. The business has a 50-day simple moving average of $61.67 and a 200-day simple moving average of $50.51.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.69. The firm had revenue of $108.25 million during the quarter, compared to analysts’ expectations of $87.09 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%. On average, analysts predict that AnaptysBio, Inc. will post -1.3 earnings per share for the current fiscal year.

AnaptysBio announced that its Board of Directors has initiated a share repurchase program on Friday, March 27th that authorizes the company to buyback $100,000.00 billion in shares. This buyback authorization authorizes the biotechnology company to reacquire up to 5,352,316.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.