AnaptysBio (NASDAQ:ANAB) Issues Earnings Results, Misses Estimates By $1.20 EPS

AnaptysBio (NASDAQ:ANAB) issued its quarterly earnings data on Tuesday. The biotechnology company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($1.20), FiscalAI reports. The business had revenue of $25.56 million during the quarter, compared to analysts’ expectations of $18.86 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%.

AnaptysBio Stock Down 7.2%

NASDAQ:ANAB traded down $4.70 on Wednesday, reaching $60.88. 81,655 shares of the company’s stock were exchanged, compared to its average volume of 807,708. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -118.27 and a beta of 0.79. AnaptysBio has a 52-week low of $11.40 and a 52-week high of $72.36. The business has a fifty day moving average of $62.40 and a 200-day moving average of $51.21.

Insider Buying and Selling

In other AnaptysBio news, Director John P. Schmid sold 20,645 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The shares were 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 of the company’s stock, valued at $1,774,310.42. This trade represents a 39.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Daniel Faga sold 17,679 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer owned 495,965 shares of the company’s stock, valued at approximately $30,556,403.65. This trade represents a 3.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 33.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ANAB. Affinity Asset Advisors LLC acquired a new position in AnaptysBio in the fourth quarter valued at approximately $21,559,000. JPMorgan Chase & Co. grew its holdings in shares of AnaptysBio by 1,631.6% during 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 last quarter. Voloridge Investment Management LLC increased its holdings in shares of AnaptysBio by 2,358.3% in the fourth quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company’s stock valued at $11,109,000 after purchasing an additional 219,816 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of AnaptysBio by 145.6% in 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 period. Finally, Soleus Capital Management L.P. raised its holdings in AnaptysBio by 214.6% during the second quarter. Soleus Capital Management L.P. now owns 321,040 shares of the biotechnology company’s stock worth $7,127,000 after purchasing an additional 218,988 shares in the last quarter.

Analysts Set New Price Targets

ANAB has been the topic of several recent analyst reports. Barclays reaffirmed an “overweight” rating and issued a $75.00 price target on shares of AnaptysBio in a research note on Wednesday. Wall Street Zen upgraded shares of AnaptysBio from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Wedbush upped their target price on shares of AnaptysBio from $60.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, March 12th. UBS Group reiterated a “buy” rating and set a $76.00 price target on shares of AnaptysBio in a research report on Wednesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AnaptysBio in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AnaptysBio currently has an average rating of “Moderate Buy” and a consensus target price of $78.73.

AnaptysBio declared that its board has authorized a stock repurchase plan on Friday, March 27th that permits the company to repurchase $100,000.00 billion in shares. This repurchase authorization permits the biotechnology company to repurchase up to 5,352,316.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors 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.