AnaptysBio (NASDAQ:ANAB) Trading 6.5% Higher – Here’s Why

AnaptysBio, Inc. (NASDAQ:ANAB) shares were up 6.5% during mid-day trading on Monday . The company traded as high as $35.70 and last traded at $35.37. Approximately 130,450 shares changed hands during trading, a decline of 60% from the average daily volume of 324,622 shares. The stock had previously closed at $33.22.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ANAB. Wedbush reissued an “outperform” rating and set a $42.00 price target on shares of AnaptysBio in a research report on Thursday, September 26th. Truist Financial boosted their price target on shares of AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on shares of AnaptysBio from $69.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of AnaptysBio in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.10.

AnaptysBio Stock Up 4.3 %

The stock has a 50 day simple moving average of $35.29 and a two-hundred day simple moving average of $29.10. The stock has a market capitalization of $947.70 million, a P/E ratio of -5.42 and a beta of -0.29.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.82). The business had revenue of $10.97 million for the quarter, compared to analyst estimates of $25.85 million. AnaptysBio had a negative return on equity of 255.68% and a negative net margin of 558.25%. Sell-side analysts predict that AnaptysBio, Inc. will post -6.84 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Dennis Mulroy sold 12,220 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $39.91, for a total value of $487,700.20. Following the completion of the sale, the chief financial officer now directly owns 4,744 shares of the company’s stock, valued at $189,333.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other AnaptysBio news, CFO Dennis Mulroy sold 12,220 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $39.91, for a total transaction of $487,700.20. Following the completion of the transaction, the chief financial officer now directly owns 4,744 shares of the company’s stock, valued at approximately $189,333.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul F. Lizzul sold 1,500 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $35.00, for a total value of $52,500.00. Following the completion of the transaction, the insider now directly owns 11,618 shares of the company’s stock, valued at $406,630. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,940 shares of company stock valued at $945,436 in the last ninety days. 33.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of AnaptysBio in the 1st quarter worth $38,000. Headlands Technologies LLC increased its stake in AnaptysBio by 444.8% in the 2nd quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock worth $89,000 after buying an additional 2,900 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of AnaptysBio by 66.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,123 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 2,051 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of AnaptysBio during the first quarter valued at about $222,000. Finally, Algert Global LLC grew its position in shares of AnaptysBio by 11.8% during the second quarter. Algert Global LLC now owns 10,178 shares of the biotechnology company’s stock valued at $255,000 after purchasing an additional 1,078 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.