AnaptysBio (NASDAQ:ANAB) Stock Price Up 7.6% – Time to Buy?

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price rose 7.6% on Monday . The stock traded as high as $62.26 and last traded at $62.0740. Approximately 64,363 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 548,428 shares. The stock had previously closed at $57.68.

Analyst Ratings Changes

ANAB has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $66.00 price target on shares of AnaptysBio in a report on Monday, March 30th. Guggenheim reissued a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th. Piper Sandler raised their target price on shares of AnaptysBio from $67.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Wedbush raised their target price on shares of AnaptysBio from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, January 21st. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.10.

AnaptysBio Stock Down 0.5%

The company’s fifty day moving average price is $56.84 and its 200 day moving average price is $45.61. The company has a market capitalization of $1.79 billion, a P/E ratio of -119.48 and a beta of 0.40.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, topping the consensus estimate of $0.89 by $0.69. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. The company had revenue of $108.25 million for the quarter, compared to analysts’ expectations of $87.09 million. Research analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio announced that its board has initiated a stock buyback 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 reacquire up to 5,352,316.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at AnaptysBio

In related news, Director Magda Marquet sold 11,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $48.23, for a total transaction of $530,530.00. Following the sale, the director owned 9,930 shares in the company, valued at approximately $478,923.90. This trade represents a 52.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel Faga sold 17,679 shares of the stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 81,980 shares of company stock worth $4,331,074 in the last three months. Company insiders own 33.50% of the company’s stock.

Institutional Trading of AnaptysBio

Several large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC boosted its position in shares of AnaptysBio by 1.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 15,101 shares of the biotechnology company’s stock worth $732,000 after acquiring an additional 225 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position 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 acquiring an additional 263 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of AnaptysBio by 21.2% during the 4th quarter. Larson Financial Group LLC now owns 1,624 shares of the biotechnology company’s stock worth $79,000 after acquiring an additional 284 shares in the last quarter. Susquehanna Portfolio Strategies LLC boosted its position in shares of AnaptysBio by 1.4% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 35,948 shares of the biotechnology company’s stock worth $1,743,000 after acquiring an additional 500 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position 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 acquiring an additional 821 shares in the last quarter.

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.