AnaptysBio (NASDAQ:ANAB) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of AnaptysBio (NASDAQ:ANAB) from a strong-buy rating to a hold rating in a report published on Saturday morning.

Several other brokerages have also issued reports on ANAB. Wedbush lifted their price target on shares of AnaptysBio from $60.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, March 12th. UBS Group boosted their price objective on shares of AnaptysBio from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays boosted their price objective on shares of AnaptysBio from $63.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday. Zacks Research upgraded shares of AnaptysBio from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Finally, Leerink Partners set a $90.00 price objective on shares of AnaptysBio in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, AnaptysBio currently has an average rating of “Moderate Buy” and an average price target of $79.18.

AnaptysBio Trading Up 1.5%

Shares of ANAB stock opened at $63.15 on Friday. AnaptysBio has a 1 year low of $11.40 and a 1 year high of $72.36. The firm’s fifty day moving average price is $62.80 and its two-hundred day moving average price is $51.69. The firm has a market capitalization of $1.84 billion, a P/E ratio of -58.47 and a beta of 0.79.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($1.20). AnaptysBio had a negative net margin of 11.53% and a negative return on equity of 1,101.24%. The business had revenue of $25.56 million during the quarter, compared to analyst estimates of $18.86 million. As a group, equities research analysts forecast that AnaptysBio will post -1.8 EPS for the current fiscal year.

AnaptysBio declared that its board has authorized a stock repurchase program on Friday, March 27th that permits the company to buyback $100,000.00 billion in outstanding shares. This buyback authorization permits the biotechnology company to purchase up to 5,352,316.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director John P. Schmid sold 20,645 shares of the business’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $56.11, for a total transaction of $1,158,390.95. Following the transaction, the director directly owned 31,622 shares in the company, valued at $1,774,310.42. The trade was a 39.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel Faga sold 17,679 shares of the business’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $61.61, for a total transaction of $1,089,203.19. Following the transaction, the chief executive officer owned 495,965 shares in the company, valued at $30,556,403.65. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 33.50% of the stock is owned by insiders.

Institutional Trading of AnaptysBio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its holdings in shares of AnaptysBio by 5,864.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company’s stock worth $40,000 after buying an additional 821 shares during the period. Larson Financial Group LLC boosted its holdings in shares of AnaptysBio by 54.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after buying an additional 473 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of AnaptysBio by 24.3% during the 4th 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 period. Bessemer Group Inc. boosted its holdings in shares of AnaptysBio by 950.0% during the 3rd quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock worth $44,000 after buying an additional 1,292 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of AnaptysBio by 940.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,530 shares of the biotechnology company’s stock worth $74,000 after buying an additional 1,383 shares during the period.

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.