AnaptysBio (NASDAQ:ANAB) Trading Up 6.6% - Here's Why

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) traded up 6.6% during mid-day trading on Thursday . The company traded as high as $22.12 and last traded at $22.27. 440,486 shares were traded during trading, a decline of 27% from the average session volume of 607,344 shares. The stock had previously closed at $20.90.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wolfe Research assumed coverage on AnaptysBio in a report on Tuesday, February 4th. They set an "outperform" rating and a $25.00 price objective for the company. Guggenheim reaffirmed a "buy" rating and issued a $90.00 price target (up from $54.00) on shares of AnaptysBio in a report on Wednesday. Wedbush reiterated an "outperform" rating and issued a $40.00 price objective on shares of AnaptysBio in a research report on Thursday. HC Wainwright reiterated a "neutral" rating and issued a $22.00 price objective on shares of AnaptysBio in a research report on Tuesday, March 4th. Finally, Johnson Rice reiterated a "buy" rating on shares of AnaptysBio in a research report on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.38.

AnaptysBio Stock Performance

The company has a 50-day moving average price of $19.73 and a 200-day moving average price of $18.26. The company has a market capitalization of $659.58 million, a price-to-earnings ratio of -3.69 and a beta of -0.20.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.30) by $0.02. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The business had revenue of $27.77 million during the quarter, compared to analyst estimates of $15.27 million. As a group, sell-side analysts anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio announced that its board has approved a stock buyback plan on Monday, March 24th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the biotechnology company to buy up to 13.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On AnaptysBio

Institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in shares of AnaptysBio by 41.0% during the 4th quarter. Victory Capital Management Inc. now owns 334,450 shares of the biotechnology company's stock worth $4,428,000 after purchasing an additional 97,200 shares in the last quarter. Vanguard Group Inc. raised its stake in AnaptysBio by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company's stock valued at $24,411,000 after acquiring an additional 143,584 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in AnaptysBio in the 4th quarter valued at $311,000. AlphaQuest LLC grew its holdings in AnaptysBio by 1,891.5% in the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock valued at $59,000 after buying an additional 4,237 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in AnaptysBio by 97.2% in the 4th quarter. XTX Topco Ltd now owns 40,013 shares of the biotechnology company's stock valued at $530,000 after buying an additional 19,727 shares in the last quarter.

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.