AnaptysBio (NASDAQ:ANAB) CFO Dennis Mulroy Sells 15,725 Shares

AnaptysBio, Inc. (NASDAQ:ANAB) CFO Dennis Mulroy sold 15,725 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $44.85, for a total value of $705,266.25. Following the completion of the sale, the chief financial officer directly owned 9,401 shares of the company’s stock, valued at approximately $421,634.85. This represents a 62.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

AnaptysBio Stock Up 4.0%

ANAB opened at $47.53 on Friday. AnaptysBio, Inc. has a 52-week low of $12.21 and a 52-week high of $48.44. The company has a market cap of $1.32 billion, a P/E ratio of -16.85 and a beta of 0.29. The firm’s 50-day moving average price is $38.44 and its 200-day moving average price is $28.73.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $1.58. The company had revenue of $76.32 million during the quarter, compared to analysts’ expectations 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, research analysts anticipate that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

AnaptysBio declared that its board has initiated a share buyback program on Friday, November 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the biotechnology company to buy up to 9.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On AnaptysBio

A number of hedge funds and other institutional investors have recently made changes to their positions in ANAB. US Bancorp DE increased its holdings in shares of AnaptysBio by 126.5% during the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 979 shares in the last quarter. Larson Financial Group LLC increased its holdings in AnaptysBio by 54.6% in the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 473 shares in the last quarter. Bessemer Group Inc. increased its holdings in AnaptysBio by 950.0% in the third quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 1,292 shares in the last quarter. Tower Research Capital LLC TRC raised 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 during the period. Finally, Osaic Holdings Inc. boosted its stake in shares of AnaptysBio by 11,630.0% during the 2nd quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 2,326 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ANAB. Wells Fargo & Company boosted their price objective on shares of AnaptysBio from $51.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Truist Financial boosted their price target on AnaptysBio from $20.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, November 10th. Guggenheim reaffirmed a “buy” rating on shares of AnaptysBio in a report on Thursday. HC Wainwright cut their price target on shares of AnaptysBio from $52.00 to $51.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Finally, Barclays decreased their price objective on shares of AnaptysBio from $70.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.40.

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.