AnaptysBio (NASDAQ:ANAB) Upgraded at Truist Financial

Truist Financial upgraded shares of AnaptysBio (NASDAQ:ANAB) to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

Several other equities research analysts have also weighed in on ANAB. Wedbush raised their price objective on AnaptysBio from $60.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, March 12th. Barclays upped their target price on AnaptysBio from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Wall Street Zen cut AnaptysBio from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Guggenheim reiterated a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th. Finally, UBS Group lifted their target price on shares of AnaptysBio from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.44.

AnaptysBio Trading Down 11.7%

NASDAQ:ANAB opened at $57.40 on Wednesday. The company has a 50-day moving average of $55.30 and a 200-day moving average of $43.49. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -110.38 and a beta of 0.32. AnaptysBio has a twelve month low of $15.40 and a twelve month high of $68.39.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, beating the consensus estimate of $0.89 by $0.69. The business had revenue of $108.25 million during the quarter, compared to analyst estimates of $87.09 million. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. On average, research analysts forecast that AnaptysBio will post -6.08 earnings per share for the current year.

AnaptysBio announced that its board has authorized a share buyback program on Friday, March 27th that permits the company to buyback $100,000.00 billion in shares. This buyback authorization permits the biotechnology company to repurchase up to 5,352,316.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at AnaptysBio

In related news, insider Eric J. Loumeau sold 10,000 shares of AnaptysBio stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $54.00, for a total value of $540,000.00. Following the completion of the sale, the insider owned 12,835 shares of the company’s stock, valued at approximately $693,090. The trade was a 43.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dennis Mulroy sold 3,363 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $43.26, for a total transaction of $145,483.38. Following the completion of the sale, the chief financial officer owned 14,330 shares of the company’s stock, valued at $619,915.80. This represents a 19.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 110,193 shares of company stock valued at $5,333,138 in the last ninety days. 33.50% of the stock is currently owned by insiders.

Institutional Trading of AnaptysBio

Several large investors have recently made changes to their positions in ANAB. Assenagon Asset Management S.A. lifted its holdings in AnaptysBio by 4,852.7% in the 3rd 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. Affinity Asset Advisors LLC acquired a new position in AnaptysBio during the fourth quarter valued at approximately $21,559,000. 683 Capital Management LLC raised its position in shares of AnaptysBio by 155.6% in the second quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock valued at $11,100,000 after purchasing an additional 304,373 shares during the period. JPMorgan Chase & Co. lifted 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 buying an additional 233,325 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in shares of AnaptysBio by 2,358.3% during the 4th quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company’s stock worth $11,109,000 after buying an additional 219,816 shares during the period.

About AnaptysBio

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.