AnaptysBio (NASDAQ:ANAB) Insider Eric Loumeau Sells 10,000 Shares

AnaptysBio, Inc. (NASDAQ:ANAB) insider Eric Loumeau sold 10,000 shares of the business’s 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 completion of the transaction, the insider directly 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 can be accessed through this hyperlink.

AnaptysBio Stock Performance

ANAB traded down $1.82 during trading on Friday, reaching $53.08. 565,165 shares of the company traded hands, compared to its average volume of 514,052. The company has a market cap of $1.47 billion, a P/E ratio of -18.82 and a beta of 0.35. AnaptysBio, Inc. has a 12-month low of $13.99 and a 12-month high of $57.65. The firm has a fifty day simple moving average of $47.68 and a 200 day simple moving average of $35.41.

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.

Analysts Set New Price Targets

Several research analysts have commented on ANAB shares. Wells Fargo & Company increased their price objective on shares of AnaptysBio from $51.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of AnaptysBio in a research note on Wednesday, January 21st. HC Wainwright cut their price target on AnaptysBio from $52.00 to $51.00 and set a “buy” rating for the company in a report on Monday, November 24th. Stifel Nicolaus decreased their price objective on AnaptysBio from $80.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Finally, Wedbush reiterated an “outperform” rating and set a $50.00 target price on shares of AnaptysBio in a research report on Monday, November 24th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $66.89.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in AnaptysBio by 4,852.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock worth $25,719,000 after purchasing an additional 822,975 shares during the period. 683 Capital Management LLC raised its holdings in shares of AnaptysBio by 155.6% in the second quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock worth $11,100,000 after buying an additional 304,373 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of AnaptysBio by 1,631.6% in the second quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock worth $5,497,000 after buying an additional 233,325 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of AnaptysBio by 145.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 370,458 shares of the biotechnology company’s stock worth $11,343,000 after acquiring an additional 219,648 shares during the last quarter. Finally, Soleus Capital Management L.P. boosted its holdings in AnaptysBio by 214.6% during the 2nd quarter. Soleus Capital Management L.P. now owns 321,040 shares of the biotechnology company’s stock valued at $7,127,000 after acquiring an additional 218,988 shares during the period.

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.