AnaptysBio (NASDAQ:ANAB) Lowered to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded AnaptysBio from a “strong-buy” to a “hold,” even as other analysts remain more positive overall. The stock still carries a consensus rating of “Moderate Buy” with an average price target of $79.18.
• Recent quarterly results missed earnings expectations: AnaptysBio reported EPS of -$1.84 versus the -$0.64 estimate, though revenue came in above forecast at $25.56 million.
• Company insiders sold shares in recent transactions, including CEO Daniel Faga and Director John P. Schmid, while insiders collectively own 33.50% of the stock.

AnaptysBio (NASDAQ:ANAB - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on the stock. Truist Financial raised shares of AnaptysBio to a "hold" rating in a research report on Wednesday, March 25th. UBS Group lifted their price target on shares of AnaptysBio from $60.00 to $76.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Weiss Ratings lowered shares of AnaptysBio from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, May 13th. Barclays lifted their price target on shares of AnaptysBio from $63.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Finally, Stifel Nicolaus lifted their price target on shares of AnaptysBio from $56.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.18.

AnaptysBio Stock Down 0.0%

NASDAQ:ANAB opened at $51.24 on Tuesday. AnaptysBio has a 12 month low of $11.40 and a 12 month high of $72.36. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -47.44 and a beta of 0.72. The company's 50 day moving average is $61.36 and its 200-day moving average is $53.76.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) EPS for the quarter, missing analysts' consensus estimates of ($0.64) by ($1.20). AnaptysBio had a negative net margin of 11.53% and a negative return on equity of 1,101.24%. The firm had revenue of $25.56 million during the quarter, compared to the consensus estimate of $18.86 million. Research analysts predict that AnaptysBio will post -0.93 EPS for the current fiscal year.

AnaptysBio declared that its board has approved a stock buyback plan on Friday, March 27th that authorizes the company to buyback $100,000.00 billion in shares. This buyback authorization authorizes the biotechnology company to purchase up to 5,352,316.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at AnaptysBio

In related news, CEO Daniel Faga sold 17,679 shares of the company's stock in a transaction on Friday, March 27th. The shares were sold at an average price of $61.61, for a total transaction of $1,089,203.19. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Schmid sold 20,645 shares of the company's stock in a transaction on Monday, March 30th. The shares were sold at an average price of $56.11, for a total transaction of $1,158,390.95. Following the transaction, the director owned 31,622 shares of the company's stock, valued at approximately $1,774,310.42. The trade was a 39.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 33.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

Several institutional investors and hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC increased its holdings in AnaptysBio by 1.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 15,101 shares of the biotechnology company's stock valued at $732,000 after buying an additional 225 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in AnaptysBio by 24.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,345 shares of the biotechnology company's stock valued at $65,000 after buying an additional 263 shares during the period. Larson Financial Group LLC increased its holdings in AnaptysBio by 21.2% in the 4th quarter. Larson Financial Group LLC now owns 1,624 shares of the biotechnology company's stock valued at $79,000 after buying an additional 284 shares during the period. Susquehanna Portfolio Strategies LLC increased its holdings in AnaptysBio by 1.4% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 35,948 shares of the biotechnology company's stock valued at $1,743,000 after buying an additional 500 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in AnaptysBio by 5,864.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company's stock valued at $40,000 after buying an additional 821 shares during the period.

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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