AnaptysBio (NASDAQ:ANAB) Trading 5.1% Higher - Should You Buy?

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) shares traded 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 mid-day 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 analysts have recently commented on the company. Wedbush boosted their price target on AnaptysBio from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on AnaptysBio from $42.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Guggenheim reissued a "buy" rating and issued a $90.00 price target (up from $54.00) on shares of AnaptysBio in a research report on Wednesday, May 28th. HC Wainwright raised AnaptysBio from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $22.00 to $38.00 in a research report on Wednesday, June 4th. Finally, UBS Group reissued 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 investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $46.13.

AnaptysBio Stock Performance

The firm has a market capitalization of $623.66 million, a P/E ratio of -4.96 and a beta of -0.19. The firm has a 50-day moving average of $23.20 and a 200-day moving average of $20.89.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.50) by $0.16. The business had revenue of $22.26 million for the quarter, compared to analysts' expectations of $11.55 million. AnaptysBio had a negative return on equity of 366.98% and a negative net margin of 107.66%. On average, research analysts forecast that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

Insider Buying and Selling at AnaptysBio

In other news, Director Hollings Renton sold 20,925 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $23.57, for a total transaction of $493,202.25. Following the transaction, the director directly owned 4,965 shares of the company's stock, valued at $117,025.05. This represents a 80.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 33.50% of the stock is owned by insiders.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of AnaptysBio by 0.8% during the 4th quarter. Wellington Management Group LLP now owns 66,467 shares of the biotechnology company's stock valued at $880,000 after buying an additional 528 shares during the period. Rhumbline Advisers lifted its holdings in shares of AnaptysBio by 2.7% during the 1st quarter. Rhumbline Advisers now owns 30,903 shares of the biotechnology company's stock valued at $574,000 after buying an additional 826 shares during the period. US Bancorp DE lifted its holdings in shares of AnaptysBio by 126.5% during the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock valued at $33,000 after buying an additional 979 shares during the period. Corton Capital Inc. lifted its holdings in shares of AnaptysBio by 12.2% during the 2nd quarter. Corton Capital Inc. now owns 12,004 shares of the biotechnology company's stock valued at $266,000 after buying an additional 1,305 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of AnaptysBio by 10.3% during the 4th quarter. California State Teachers Retirement System now owns 14,590 shares of the biotechnology company's stock valued at $193,000 after buying an additional 1,359 shares during the period.

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.

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