AnaptysBio (NASDAQ:ANAB) Trading 11.2% Higher - Time to Buy?

Key Points

• Shares jumped 11.2% intraday to about $65.47 on Monday, trading 112,561 shares—roughly 86% below the stock's average session volume.
• Analyst sentiment is mostly positive, with nine Buy, one Hold and one Sell rating leading to a "Moderate Buy" consensus and an average price target of $75.50; notable revisions include Piper Sandler raising its target to $95 and UBS cutting its target to $60.
• Q1 results beat estimates (EPS $1.58 vs $0.89; revenue $108.25M vs $87.09M) but the company remains unprofitable with a negative net margin and ROE; the board announced a share-repurchase authorization (article lists implausible figures) while insiders sold about 48,324 shares totaling roughly $2.79M.

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) shot up 11.2% during trading on Monday . The stock traded as high as $63.17 and last traded at $65.47. 112,561 shares were traded during mid-day trading, a decline of 86% from the average session volume of 820,397 shares. The stock had previously closed at $58.88.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Truist Financial raised AnaptysBio to a "hold" rating in a research note on Wednesday, March 25th. HC Wainwright reissued a "buy" rating and issued a $66.00 price objective on shares of AnaptysBio in a research note on Monday, March 30th. Piper Sandler raised their price target on AnaptysBio from $67.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Stifel Nicolaus boosted their target price on AnaptysBio from $56.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. Finally, UBS Group cut their price target on shares of AnaptysBio from $90.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, April 21st. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $75.50.

AnaptysBio Trading Up 15.0%

The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -130.49 and a beta of 0.40. The company has a 50-day moving average of $60.00 and a 200-day moving average of $48.87.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its earnings results 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 for the quarter, compared to the consensus estimate of $87.09 million. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. On average, 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 share repurchase plan 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 repurchase up to 5,352,316.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Insider Activity at AnaptysBio

In related news, insider Eric J. Loumeau sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $54.00, for a total value of $540,000.00. Following the sale, the insider owned 12,835 shares in the company, valued at $693,090. This represents a 43.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the sale, the director directly 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. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,324 shares of company stock worth $2,787,594 over the last quarter. Insiders own 33.50% of the company's stock.

Institutional Investors Weigh In On AnaptysBio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its stake in shares of AnaptysBio by 5,864.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 821 shares during the last quarter. Larson Financial Group LLC lifted its stake in AnaptysBio by 54.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company's stock worth $41,000 after acquiring an additional 473 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of AnaptysBio by 950.0% in the third quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company's stock valued at $44,000 after purchasing an additional 1,292 shares during the period. Tower Research Capital LLC TRC grew its stake 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 worth $48,000 after acquiring an additional 1,377 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in AnaptysBio by 11,630.0% during the 2nd quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company's stock worth $52,000 after purchasing an additional 2,326 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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