AnaptysBio (NASDAQ:ANAB) Trading Up 9.1% - What's Next?

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) was up 9.1% during trading on Friday . The stock traded as high as $22.92 and last traded at $23.06. Approximately 184,816 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 625,247 shares. The stock had previously closed at $21.14.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. HC Wainwright raised AnaptysBio from a "neutral" rating to a "buy" rating and increased their price target for the company from $22.00 to $38.00 in a research report on Wednesday. Johnson Rice reissued a "buy" rating on shares of AnaptysBio in a report on Wednesday, March 26th. Wells Fargo & Company raised their target price on shares of AnaptysBio from $40.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Guggenheim reaffirmed a "buy" rating and set a $90.00 price target (up from $54.00) on shares of AnaptysBio in a research report on Wednesday, May 28th. Finally, Wedbush reiterated an "outperform" rating and issued a $40.00 price target on shares of AnaptysBio in a research note on Thursday, May 29th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.38.

AnaptysBio Price Performance

The company has a market capitalization of $680.59 million, a P/E ratio of -3.79 and a beta of -0.20. The company's 50-day moving average price is $20.00 and its two-hundred day moving average price is $18.33.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $27.77 million during the quarter, compared to the consensus estimate of $15.27 million. On average, analysts anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio declared that its board has approved a stock repurchase 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 purchase up to 13.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE grew its holdings in shares of AnaptysBio by 126.5% during the first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 979 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in AnaptysBio by 9,778.9% during the 1st quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company's stock valued at $35,000 after acquiring an additional 1,858 shares in the last quarter. Tower Research Capital LLC TRC grew its position in AnaptysBio by 131.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 1,531 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of AnaptysBio in the 4th quarter worth approximately $40,000. Finally, AlphaQuest LLC grew its holdings in shares of AnaptysBio by 1,891.5% in the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock valued at $59,000 after acquiring an additional 4,237 shares in the last quarter.

AnaptysBio Company Profile

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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