AnaptysBio (NASDAQ:ANAB) Trading 4.4% Higher - Here's Why
AnaptysBio (NASDAQ:ANAB) shares rose 4.4% to $17.17, with a trading volume significantly lower than average. Analysts have given the stock a "Moderate Buy" rating, with price targets ranging from $25 to $51. The company reported better-than-expected earnings, with revenue of $43.11 million. Insider buying was noted, and institutional investors have increased their stakes. AnaptysBio focuses on immunology therapeutics, with several products in development.
AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) shares were up 4.4% on Thursday . The company traded as high as $17.29 and last traded at $17.17. Approximately 85,418 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 533,342 shares. The stock had previously closed at $16.44.
Wall Street Analyst Weigh In
- Argenx's 28% Surge & Promising Product Propel Investor Confidence
ANAB has been the topic of a number of analyst reports. Wolfe Research started coverage on AnaptysBio in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $25.00 price target on the stock. Wedbush reissued an "outperform" rating and issued a $40.00 target price on shares of AnaptysBio in a research note on Wednesday, February 12th. Guggenheim reaffirmed a "buy" rating on shares of AnaptysBio in a research report on Monday, March 3rd. Wells Fargo & Company increased their price objective on shares of AnaptysBio from $40.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of AnaptysBio from $36.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, AnaptysBio presently has an average rating of "Moderate Buy" and a consensus price target of $35.11.
Get Our Latest Report on AnaptysBio
AnaptysBio Price Performance
The firm has a 50-day simple moving average of $16.68 and a 200-day simple moving average of $22.85. The firm has a market capitalization of $518.27 million, a PE ratio of -2.75 and a beta of 0.02.
AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($1.61) by $0.89. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The business had revenue of $43.11 million for the quarter, compared to the consensus estimate of $10.17 million. Equities analysts expect that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.
Insider Buying and Selling at AnaptysBio
In related news, Director Ecor1 Capital, Llc acquired 6,646 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was bought at an average cost of $12.95 per share, for a total transaction of $86,065.70. Following the purchase, the director now owns 7,880,094 shares in the company, valued at $102,047,217.30. The trade was a 0.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 33.70% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On AnaptysBio
A number of institutional investors and hedge funds have recently bought and sold shares of ANAB. Frazier Life Sciences Management L.P. raised its position in shares of AnaptysBio by 2.0% during the third quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company's stock valued at $74,008,000 after buying an additional 43,598 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in AnaptysBio by 202.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 54,200 shares of the biotechnology company's stock valued at $1,816,000 after buying an additional 36,300 shares during the period. JPMorgan Chase & Co. lifted its position in AnaptysBio by 191.4% in the third quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company's stock worth $1,130,000 after buying an additional 22,164 shares during the last quarter. Victory Capital Management Inc. boosted its stake in AnaptysBio by 677.9% during 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 period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of AnaptysBio during the 4th quarter worth about $311,000.
AnaptysBio Company Profile
(Get Free Report)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.
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