AnaptysBio, Inc. (NASDAQ:ANAB) Receives $66.89 Average Price Target from Brokerages

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $66.8889.

A number of research firms have commented on ANAB. HC Wainwright cut their price target on shares of AnaptysBio from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Guggenheim reissued a “buy” rating on shares of AnaptysBio in a research note on Thursday, December 18th. Wall Street Zen downgraded AnaptysBio from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, January 21st. Finally, Wells Fargo & Company increased their price objective on AnaptysBio from $51.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th.

Insider Transactions at AnaptysBio

In other news, Director Magda Marquet sold 11,000 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $48.23, for a total transaction of $530,530.00. Following the transaction, the director directly owned 9,930 shares of the company’s stock, valued at approximately $478,923.90. This trade represents a 52.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dennis Mulroy sold 2,515 shares of AnaptysBio stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $44.71, for a total value of $112,445.65. Following the completion of the transaction, the chief financial officer owned 21,852 shares in the company, valued at approximately $977,002.92. This represents a 10.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 156,280 shares of company stock worth $7,254,939. Corporate insiders own 33.50% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

Several institutional investors and hedge funds have recently bought and sold shares of ANAB. Federated Hermes Inc. increased its holdings in AnaptysBio by 2,236.6% during the 3rd quarter. Federated Hermes Inc. now owns 193,327 shares of the biotechnology company’s stock valued at $5,920,000 after purchasing an additional 185,053 shares during the period. Panagora Asset Management Inc. purchased a new position in shares of AnaptysBio during the second quarter valued at approximately $741,000. Assenagon Asset Management S.A. raised its holdings in shares of AnaptysBio by 4,852.7% during the third quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock valued at $25,719,000 after acquiring an additional 822,975 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in AnaptysBio in the second quarter worth $337,000. Finally, Los Angeles Capital Management LLC bought a new stake in AnaptysBio in the second quarter valued at $334,000.

AnaptysBio Trading Down 3.3%

Shares of ANAB opened at $53.08 on Tuesday. AnaptysBio has a 12-month low of $13.99 and a 12-month high of $57.65. The company has a market cap of $1.47 billion, a PE ratio of -18.82 and a beta of 0.35. The stock has a 50-day moving average price of $48.03 and a 200-day moving average price of $35.93.

AnaptysBio declared that its board has approved a stock repurchase program on Friday, November 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the biotechnology company to purchase up to 9.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is 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.