AnaptysBio (NASDAQ:ANAB) Trading 9.1% Higher – Here’s What Happened

AnaptysBio, Inc. (NASDAQ:ANABGet Free Report)’s share price traded up 9.1% during mid-day trading on Friday . The stock traded as high as $22.92 and last traded at $23.06. 184,816 shares were traded during mid-day trading, a decline of 70% from the average session volume of 625,247 shares. The stock had previously closed at $21.14.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. HC Wainwright upgraded shares of AnaptysBio from a “neutral” rating to a “buy” rating and increased their price objective for the company from $22.00 to $38.00 in a report on Wednesday. Johnson Rice restated a “buy” rating on shares of AnaptysBio in a report on Wednesday, March 26th. JPMorgan Chase & Co. raised 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. Wells Fargo & Company raised their target price on shares of AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Wedbush restated an “outperform” rating and set a $40.00 target price on shares of AnaptysBio in a report on Thursday, May 29th. Three investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.38.

View Our Latest Stock Analysis on ANAB

AnaptysBio Trading Up 12.1%

The firm has a market cap of $696.31 million, a PE ratio of -3.90 and a beta of -0.26. The company’s 50-day moving average is $20.10 and its 200 day moving average is $18.34.

AnaptysBio (NASDAQ:ANABGet Free Report) last issued its quarterly earnings results on Monday, May 5th. The biotechnology company reported ($1.28) EPS for the quarter, beating the consensus estimate of ($1.30) by $0.02. The business had revenue of $27.77 million during the quarter, compared to the consensus estimate of $15.27 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. On average, research analysts predict that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

AnaptysBio announced that its Board of Directors has approved a stock buyback plan on Monday, March 24th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the biotechnology company to reacquire up to 13.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On AnaptysBio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its position in AnaptysBio by 126.5% in the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock worth $33,000 after buying an additional 979 shares in the last quarter. Farther Finance Advisors LLC lifted its position in AnaptysBio by 9,778.9% in the 1st quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company’s stock worth $35,000 after buying an additional 1,858 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in AnaptysBio by 131.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company’s stock worth $36,000 after buying an additional 1,531 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in AnaptysBio in the 4th quarter worth approximately $40,000. Finally, AlphaQuest LLC lifted its position in AnaptysBio by 1,891.5% in the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock worth $59,000 after buying an additional 4,237 shares in the last quarter.

About AnaptysBio

(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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