AnaptysBio (NASDAQ:ANAB) Board of Directors Authorizes Share Buyback Plan

Key Points

• The board authorized a share buyback plan, but the article's reported buyback amount and repurchase percentage appear to be garbled/erroneous and should be confirmed from the company filing.
• Shares traded down to $57.40 on heavy volume (1.35M shares) with a market cap of about $1.65 billion and a one‑year range of $15.40–$68.39.
• AnaptysBio reported quarterly EPS of $1.58 and revenue of $108.25M, beating estimates, yet the company shows a negative return on equity; analysts are mostly positive (consensus "Moderate Buy") with an average price target of $78.44.

AnaptysBio (NASDAQ:ANAB - Get Free Report) declared that its Board of Directors has authorized a stock repurchase plan on Friday, March 27th, RTT News reports. The company plans to buyback $100,000.00 billion in shares. This buyback authorization authorizes the biotechnology company to repurchase up to 5,352,316.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

AnaptysBio Stock Performance

Shares of NASDAQ:ANAB traded down $7.59 during midday trading on Friday, reaching $57.40. 1,353,338 shares of the company's stock traded hands, compared to its average volume of 602,439. AnaptysBio has a one year low of $15.40 and a one year high of $68.39. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -110.38 and a beta of 0.32. The stock has a 50 day moving average of $55.30 and a 200 day moving average of $43.49.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, topping the consensus estimate of $0.89 by $0.69. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%.The company had revenue of $108.25 million during the quarter, compared to the consensus estimate of $87.09 million. Sell-side analysts predict that AnaptysBio will post -6.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ANAB shares. Truist Financial raised AnaptysBio to a "hold" rating in a research report on Wednesday. Barclays raised their price objective on shares of AnaptysBio from $78.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, March 4th. UBS Group lifted their target price on shares of AnaptysBio from $70.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, March 17th. Stifel Nicolaus upped their target price on shares of AnaptysBio from $56.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Finally, HC Wainwright increased their price target on shares of AnaptysBio from $51.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $78.44.

Insider Activity at AnaptysBio

In related news, CEO Daniel Faga sold 14,281 shares of the firm's stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $44.71, for a total value of $638,503.51. Following the transaction, the chief executive officer owned 479,344 shares of the company's stock, valued at approximately $21,431,470.24. This trade represents a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul F. Lizzul sold 3,650 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $44.71, for a total transaction of $163,191.50. Following the completion of the transaction, the insider owned 42,088 shares in the company, valued at $1,881,754.48. The trade was a 7.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 92,514 shares of company stock valued at $4,243,935 in the last 90 days. 33.50% of the stock is owned by company insiders.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company's technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company's pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.

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