AnaptysBio (NASDAQ:ANAB) Hits New 1-Year High - Time to Buy?

Key Points

• AnaptysBio hit a new 52-week high, trading as high as $70.22 (last $66.59) and was up about 13.1% on roughly 1.12 million shares traded.
• Consensus from analysts is a Moderate Buy with an average price target of $75.50 (nine Buys, one Hold, one Sell) amid mixed recent target revisions.
• The company reported a recent quarterly beat (EPS $1.58 vs. $0.89; revenue $108.3M vs. $87.1M) but remains unprofitable (negative PE and net margin), and insiders sold about 48,324 shares worth ~$2.79M while still owning 33.5% of the stock.

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $70.22 and last traded at $66.59, with a volume of 1122019 shares changing hands. The stock had previously closed at $58.88.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. UBS Group dropped their price target on AnaptysBio from $90.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, April 21st. Piper Sandler upped their price target on AnaptysBio from $67.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, March 31st. Stifel Nicolaus upped their price target on AnaptysBio from $56.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. Barclays dropped their price target on AnaptysBio from $79.00 to $63.00 and set an "overweight" rating for the company in a research report on Wednesday, April 22nd. Finally, Wedbush upped their price target on AnaptysBio from $60.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday, March 12th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, AnaptysBio has a consensus rating of "Moderate Buy" and an average target price of $75.50.

AnaptysBio Stock Up 13.1%

The company has a market capitalization of $1.91 billion, a PE ratio of -128.06 and a beta of 0.40. The firm has a 50-day moving average of $60.27 and a two-hundred day moving average of $49.11.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.69. The company had revenue of $108.25 million during the quarter, compared to analyst estimates of $87.09 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%. On average, equities research analysts expect that AnaptysBio, Inc. will post -2.96 EPS for the current year.

AnaptysBio declared that its Board of Directors has authorized a stock repurchase program on Friday, March 27th that allows the company to repurchase $100,000.00 billion in shares. This repurchase authorization allows the biotechnology company to repurchase up to 5,352,316.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other AnaptysBio news, CEO Daniel Faga sold 17,679 shares of the company's stock in a transaction on Friday, March 27th. The stock was sold at an average price of $61.61, for a total transaction of $1,089,203.19. Following the transaction, the chief executive officer directly owned 495,965 shares in the company, valued at $30,556,403.65. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Schmid sold 20,645 shares of the company's stock in a transaction on Monday, March 30th. The stock was sold at an average price of $56.11, for a total value of $1,158,390.95. Following the transaction, the director owned 31,622 shares in the company, valued at $1,774,310.42. This trade represents a 39.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 48,324 shares of company stock worth $2,787,594. Company insiders own 33.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in AnaptysBio by 5,864.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 821 shares in the last quarter. Larson Financial Group LLC lifted its stake in AnaptysBio by 54.6% during the third 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. Mirae Asset Global Investments Co. Ltd. lifted its stake in AnaptysBio by 24.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,345 shares of the biotechnology company's stock worth $65,000 after purchasing an additional 263 shares in the last quarter. Bessemer Group Inc. lifted its stake in AnaptysBio by 950.0% during the third quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company's stock worth $44,000 after purchasing an additional 1,292 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in AnaptysBio by 940.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,530 shares of the biotechnology company's stock worth $74,000 after purchasing an additional 1,383 shares in the last quarter.

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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