AnaptysBio (NASDAQ:ANAB) Sets New 1-Year High – Here’s Why

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $41.49 and last traded at $42.36, with a volume of 74538 shares changing hands. The stock had previously closed at $39.61.

Analyst Ratings Changes

A number of research firms have commented on ANAB. HC Wainwright dropped their price target on shares of AnaptysBio from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group reiterated a “neutral” rating and set a $20.00 price objective (up previously from $18.00) on shares of AnaptysBio in a research note on Tuesday, August 12th. Wall Street Zen raised AnaptysBio from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 16th. Wells Fargo & Company upped their target price on AnaptysBio from $51.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, Truist Financial lifted their price target on AnaptysBio from $20.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.30.

AnaptysBio Stock Down 1.1%

The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -14.72 and a beta of 0.16. The firm’s 50 day moving average is $32.36 and its 200 day moving average is $26.06.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $1.58. The firm had revenue of $76.32 million for the quarter, compared to analyst estimates of $15.83 million. AnaptysBio had a negative net margin of 49.94% and a negative return on equity of 1,101.24%. On average, sell-side analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio declared that its Board of Directors has initiated a share buyback program on Friday, November 21st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the biotechnology company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On AnaptysBio

Several hedge funds have recently modified their holdings of ANAB. Larson Financial Group LLC increased its stake in AnaptysBio by 54.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 473 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of AnaptysBio by 950.0% in the third quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock worth $44,000 after buying an additional 1,292 shares during the period. US Bancorp DE boosted its holdings in shares of AnaptysBio by 126.5% in the first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock worth $33,000 after buying an additional 979 shares during the period. Tower Research Capital LLC TRC increased its position in shares of AnaptysBio by 175.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 1,377 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of AnaptysBio by 11,630.0% during the second quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 2,326 shares during the period.

About AnaptysBio

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.