AnaptysBio, Inc. (NASDAQ:ANAB) Receives Average Rating of “Moderate Buy” from Brokerages

AnaptysBio, Inc. (NASDAQ:ANAB) has received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $66.8889.

Several brokerages recently weighed in on ANAB. Stifel Nicolaus dropped their target price on AnaptysBio from $80.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Wells Fargo & Company boosted their price objective on AnaptysBio from $51.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. UBS Group began coverage on AnaptysBio in a research note on Wednesday, January 7th. They set a “buy” rating and a $70.00 price objective for the company. Wall Street Zen downgraded shares of AnaptysBio from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, HC Wainwright lowered their price target on shares of AnaptysBio from $52.00 to $51.00 and set a “buy” rating for the company in a report on Monday, November 24th.

AnaptysBio Trading Up 0.4%

Shares of AnaptysBio stock opened at $49.95 on Tuesday. The firm has a market capitalization of $1.38 billion, a PE ratio of -17.71 and a beta of 0.35. AnaptysBio has a 12 month low of $12.21 and a 12 month high of $52.47. The business’s 50-day moving average price is $47.03 and its 200-day moving average price is $34.97.

AnaptysBio declared that its Board of Directors has approved a share repurchase plan on Friday, November 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the biotechnology company to buy up to 9.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at AnaptysBio

In other AnaptysBio news, CFO Dennis Mulroy sold 2,515 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $44.71, for a total value of $112,445.65. Following the completion of the sale, the chief financial officer directly owned 21,852 shares in the company, valued at $977,002.92. This trade represents a 10.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric J. Loumeau sold 2,210 shares of AnaptysBio stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $44.71, for a total value of $98,809.10. Following the sale, the insider owned 12,835 shares in the company, valued at $573,852.85. This represents a 14.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 146,280 shares of company stock worth $6,714,939. 33.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its stake in shares of AnaptysBio by 4,852.7% in the third 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 last quarter. 683 Capital Management LLC lifted its stake in AnaptysBio by 155.6% during the 2nd quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock valued at $11,100,000 after acquiring an additional 304,373 shares during the period. JPMorgan Chase & Co. grew its stake 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 acquiring an additional 233,325 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of AnaptysBio by 145.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 370,458 shares of the biotechnology company’s stock valued at $11,343,000 after purchasing an additional 219,648 shares during the last quarter. Finally, Soleus Capital Management L.P. lifted its position 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 valued at $7,127,000 after purchasing 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.