AnaptysBio (NASDAQ:ANAB) Releases Earnings Results, Misses Expectations By $1.20 EPS

Key Points

• AnaptysBio missed earnings expectations, reporting quarterly EPS of ($1.84) versus analyst estimates of ($0.64), while revenue came in at $25.56 million, above the $18.86 million consensus.
• The stock fell after the report, trading down 3.4% to $65.58 in mid-day trading, though shares remained near their 52-week high of $72.36.
• Analyst sentiment remains mostly positive, with a consensus rating of “Moderate Buy” and an average price target of $76.18, even as recent insider sales and some target cuts have added caution.

AnaptysBio (NASDAQ:ANAB - Get Free Report) issued its earnings results on Tuesday. The biotechnology company reported ($1.84) EPS for the quarter, missing analysts' consensus estimates of ($0.64) by ($1.20), FiscalAI reports. The firm had revenue of $25.56 million during the quarter, compared to analyst estimates of $18.86 million. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%.

AnaptysBio Trading Down 3.4%

Shares of AnaptysBio stock traded down $2.34 during mid-day trading on Tuesday, reaching $65.58. 853,310 shares of the stock were exchanged, compared to its average volume of 816,023. AnaptysBio has a fifty-two week low of $11.40 and a fifty-two week high of $72.36. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -126.11 and a beta of 0.79. The firm has a 50-day simple moving average of $62.19 and a 200 day simple moving average of $50.99.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ANAB shares. Wedbush lifted their price target on shares of AnaptysBio from $60.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, March 12th. Stifel Nicolaus raised their price objective on shares of AnaptysBio from $56.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Wall Street Zen upgraded shares of AnaptysBio from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 25th. Piper Sandler lowered their target price on shares of AnaptysBio from $95.00 to $93.00 and set an "overweight" rating on the stock in a research note on Monday, May 4th. Finally, Barclays dropped their price target on shares of AnaptysBio from $79.00 to $63.00 and set an "overweight" rating for the company in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $76.18.

Insider Buying and Selling at AnaptysBio

In other AnaptysBio news, Director John P. Schmid sold 20,645 shares of the company's stock in a transaction dated 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 sale, the director directly owned 31,622 shares of the company's stock, valued at approximately $1,774,310.42. This represents a 39.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel Faga sold 17,679 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 495,965 shares of the company's stock, valued at approximately $30,556,403.65. The trade was a 3.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,324 shares of company stock worth $2,787,594 over the last ninety days. Corporate insiders own 33.50% of the company's stock.

Hedge Funds Weigh In On AnaptysBio

Several institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its position 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 purchasing an additional 821 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of 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 during the last quarter. Royal Bank of Canada increased its stake in shares of AnaptysBio by 987.3% in the fourth quarter. Royal Bank of Canada now owns 1,718 shares of the biotechnology company's stock valued at $83,000 after buying an additional 1,560 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings 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 valued at $48,000 after buying an additional 1,377 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of AnaptysBio by 11,630.0% in the second quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company's stock valued at $52,000 after buying an additional 2,326 shares during the last quarter.

AnaptysBio announced that its board has authorized a stock buyback program on Friday, March 27th that permits the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization permits the biotechnology company to buy up to 5,352,316.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

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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