AnaptysBio (NASDAQ:ANAB) Stock Price Up 4.4% – Still a Buy?

AnaptysBio, Inc. (NASDAQ:ANAB) shares shot up 4.4% during mid-day trading on Thursday . The company traded as high as $17.29 and last traded at $17.17. 85,418 shares traded hands during trading, a decline of 84% from the average session volume of 533,342 shares. The stock had previously closed at $16.44.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wolfe Research started coverage on shares of AnaptysBio in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price objective for the company. Guggenheim reaffirmed a “buy” rating on shares of AnaptysBio in a research report on Monday, March 3rd. BTIG Research lowered shares of AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. Wells Fargo & Company increased their target price on AnaptysBio from $40.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Wedbush reissued an “outperform” rating and issued a $40.00 price target on shares of AnaptysBio in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.11.

AnaptysBio Stock Performance

The company has a market capitalization of $518.27 million, a price-to-earnings ratio of -2.75 and a beta of 0.02. The business’s 50 day moving average is $16.68 and its 200 day moving average is $22.85.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.61) by $0.89. The firm had revenue of $43.11 million for the quarter, compared to analyst estimates of $10.17 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. Sell-side analysts predict that AnaptysBio, Inc. will post -6.08 EPS for the current year.

Insider Buying and Selling

In other AnaptysBio news, Director Ecor1 Capital, Llc bought 6,646 shares of AnaptysBio stock in a transaction that occurred on Thursday, January 2nd. The stock was purchased at an average price of $12.95 per share, with a total value of $86,065.70. Following the completion of the acquisition, the director now directly owns 7,880,094 shares in the company, valued at approximately $102,047,217.30. This trade represents a 0.08 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANAB. Victory Capital Management Inc. boosted its stake in shares of AnaptysBio by 677.9% in the third quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company’s stock worth $7,948,000 after buying an additional 206,750 shares during the last quarter. Jennison Associates LLC acquired a new position in AnaptysBio in the third quarter valued at approximately $8,874,000. Intech Investment Management LLC acquired a new stake in shares of AnaptysBio during the 3rd quarter worth approximately $229,000. Charles Schwab Investment Management Inc. grew its stake in shares of AnaptysBio by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 160,321 shares of the biotechnology company’s stock worth $5,371,000 after purchasing an additional 5,043 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of AnaptysBio by 66.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 42,046 shares of the biotechnology company’s stock valued at $1,409,000 after purchasing an additional 16,734 shares in the last quarter.

AnaptysBio Company Profile

AnaptysBio, Inc, a clinical-stage biotechnology company, focuses in delivering immunology therapeutics. Its products include Rosnilimab, an IgG1 antibody that targets PD-1+ T cells, resulting in their agonism or depletion, broadly impacting pathogenic drivers of autoimmune and inflammatory diseases; and ANB032, a non-depleting antibody that binds to the BTLA checkpoint receptor and inhibits activated T cell proliferation; ANB033, a novel anti-CD122 antagonist antibody that targets the shared common beta subunit of the receptors for IL-15 and IL-2; ANB101, a BDCA2 modulator antibody that specifically targets plasmacytoid dendritic cells (pDCs); and Imsidolimab, an antibody that inhibits the interleukin-36 receptor, which is in the Phase 3 development for the treatment of generalized pustular psoriasis.