AnaptysBio (NASDAQ:ANAB) Stock Price Up 5.1% - What's Next?

Key Points

• AnaptysBio's stock price increased by 5.1% to $21.66, although trading volume was significantly lower at 105,053 shares, down 86% from the average.
• Recent analyst upgrades include price targets raised by Wedbush to $45 and JPMorgan to $80, indicating strong investor confidence in the company's future performance.
• AnaptysBio reported better-than-expected quarterly earnings, with $22.26 million in revenue, surpassing analyst expectations of $11.55 million.

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) shot up 5.1% during trading on Wednesday . The company traded as high as $21.58 and last traded at $21.66. 105,053 shares changed hands during trading, a decline of 86% from the average session volume of 740,779 shares. The stock had previously closed at $20.61.

Analyst Upgrades and Downgrades

A number of research firms have commented on ANAB. HC Wainwright upgraded shares of AnaptysBio from a "neutral" rating to a "buy" rating and increased their price objective for the company from $22.00 to $38.00 in a research note on Wednesday, June 4th. Guggenheim reiterated a "buy" rating and set a $90.00 price objective (up from $54.00) on shares of AnaptysBio in a research note on Wednesday, May 28th. Wedbush increased their price objective on shares of AnaptysBio from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on shares of AnaptysBio from $42.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, UBS Group restated a "neutral" rating and issued a $20.00 price target (up from $18.00) on shares of AnaptysBio in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $46.13.

AnaptysBio Stock Performance

The firm has a market cap of $621.32 million, a price-to-earnings ratio of -4.95 and a beta of -0.19. The stock's fifty day moving average is $23.13 and its two-hundred day moving average is $20.94.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The biotechnology company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.50) by $0.16. AnaptysBio had a negative return on equity of 366.98% and a negative net margin of 107.66%.The firm had revenue of $22.26 million for the quarter, compared to the consensus estimate of $11.55 million. Sell-side analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Hollings Renton sold 20,925 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $23.57, for a total value of $493,202.25. Following the completion of the transaction, the director owned 4,965 shares in the company, valued at $117,025.05. This represents a 80.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 33.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. HighMark Wealth Management LLC acquired a new position in shares of AnaptysBio during the first quarter valued at approximately $1,710,000. Two Sigma Investments LP boosted its stake in AnaptysBio by 66.4% during the 4th quarter. Two Sigma Investments LP now owns 352,034 shares of the biotechnology company's stock valued at $4,661,000 after purchasing an additional 140,457 shares in the last quarter. Moody Aldrich Partners LLC acquired a new position in shares of AnaptysBio during the 1st quarter valued at $1,547,000. BIT Capital GmbH bought a new stake in shares of AnaptysBio in the 1st quarter worth $473,000. Finally, Sanofi bought a new stake in shares of AnaptysBio in the 4th quarter worth $10,882,000.

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.