AnaptysBio (NASDAQ:ANAB) Trading 3.2% Higher

AnaptysBio, Inc. (NASDAQ:ANAB) shares shot up 3.2% during mid-day trading on Wednesday . The stock traded as high as $22.37 and last traded at $22.22. 222,281 shares were traded during trading, a decline of 28% from the average session volume of 308,377 shares. The stock had previously closed at $21.53.

Analysts Set New Price Targets

Several research firms have recently issued reports on ANAB. Stifel Nicolaus began coverage on AnaptysBio in a report on Wednesday, February 21st. They set a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on AnaptysBio from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, April 1st. BTIG Research began coverage on AnaptysBio in a report on Monday, February 26th. They set a “buy” rating and a $55.00 target price on the stock. Piper Sandler started coverage on AnaptysBio in a report on Friday, February 16th. They set an “overweight” rating and a $80.00 target price on the stock. Finally, Wedbush raised AnaptysBio from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $20.00 to $34.00 in a research note on Tuesday, March 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, AnaptysBio has an average rating of “Moderate Buy” and a consensus target price of $44.71.

AnaptysBio Stock Up 3.4 %

The firm has a 50 day moving average of $23.58 and a two-hundred day moving average of $20.38. The firm has a market capitalization of $595.74 million, a price-to-earnings ratio of -3.60 and a beta of -0.30.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Monday, March 11th. The biotechnology company reported ($1.59) EPS for the quarter, beating analysts’ consensus estimates of ($1.74) by $0.15. AnaptysBio had a negative return on equity of 119.42% and a negative net margin of 953.66%. The firm had revenue of $9.01 million for the quarter, compared to analyst estimates of $3.28 million. Sell-side analysts forecast that AnaptysBio, Inc. will post -6.25 EPS for the current fiscal year.

Insider Activity

In other news, CEO Daniel Faga sold 145,940 shares of AnaptysBio stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $22.78, for a total transaction of $3,324,513.20. Following the sale, the chief executive officer now directly owns 752,087 shares of the company’s stock, valued at $17,132,541.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Daniel Faga sold 145,940 shares of AnaptysBio stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $22.78, for a total value of $3,324,513.20. Following the transaction, the chief executive officer now directly owns 752,087 shares of the company’s stock, valued at $17,132,541.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eric J. Loumeau sold 5,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the insider now directly owns 3,240 shares of the company’s stock, valued at approximately $81,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,005 shares of company stock valued at $3,586,199. 35.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AnaptysBio

A number of hedge funds have recently bought and sold shares of ANAB. Swiss National Bank raised its stake in AnaptysBio by 7.9% during the first quarter. Swiss National Bank now owns 42,300 shares of the biotechnology company’s stock worth $1,047,000 after buying an additional 3,100 shares during the last quarter. MetLife Investment Management LLC raised its stake in AnaptysBio by 57.0% during the first quarter. MetLife Investment Management LLC now owns 11,043 shares of the biotechnology company’s stock worth $273,000 after buying an additional 4,009 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in AnaptysBio by 11.0% during the first quarter. Dimensional Fund Advisors LP now owns 891,851 shares of the biotechnology company’s stock worth $22,064,000 after buying an additional 88,457 shares during the last quarter. Ergoteles LLC bought a new position in AnaptysBio during the first quarter worth $479,000. Finally, Charles Schwab Investment Management Inc. increased its stake in AnaptysBio by 4.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 142,131 shares of the biotechnology company’s stock valued at $3,517,000 after purchasing an additional 5,819 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.