AnaptysBio (NASDAQ:ANAB) Trading Up 9.9% - Still a Buy?

Key Points

• AnaptysBio's stock saw a significant increase of 9.9% on Wednesday, with the price reaching up to $23.03, following a previous closing of $20.95.
• Analysts remain positive about AnaptysBio, with several firms boosting their price targets; Guggenheim set a new target of $90.00, while JPMorgan increased theirs to $80.00.
• The company reported earnings of ($1.34) per share, surpassing expectations, and had a revenue of $22.26 million, indicating stronger than anticipated financial performance.

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report)'s stock price was up 9.9% on Wednesday . The stock traded as high as $22.24 and last traded at $23.03. Approximately 87,765 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 729,410 shares. The stock had previously closed at $20.95.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Guggenheim restated 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. Wedbush restated an "outperform" rating and set a $45.00 price target on shares of AnaptysBio in a research report on Tuesday, September 16th. UBS Group restated a "neutral" rating and set a $20.00 price target (up from $18.00) on shares of AnaptysBio in a research report on Tuesday, August 12th. HC Wainwright upgraded shares of 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, JPMorgan Chase & Co. boosted 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, AnaptysBio has a consensus rating of "Moderate Buy" and a consensus price target of $46.13.

AnaptysBio Stock Performance

The company's 50 day moving average price is $22.36 and its 200-day moving average price is $21.31. The company has a market cap of $648.20 million, a price-to-earnings ratio of -5.18 and a beta of -0.19.

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

Insider Buying and Selling at AnaptysBio

In other news, Director Hollings Renton sold 20,925 shares of AnaptysBio stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $23.57, for a total value 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 trade represents a 80.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 33.50% of the stock is currently owned by company insiders.

Institutional Trading of AnaptysBio

Several institutional investors have recently made changes to their positions in ANAB. Deutsche Bank AG boosted its holdings in shares of AnaptysBio by 52.0% during the fourth quarter. Deutsche Bank AG now owns 17,867 shares of the biotechnology company's stock worth $237,000 after purchasing an additional 6,113 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of AnaptysBio by 21.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,012 shares of the biotechnology company's stock worth $199,000 after purchasing an additional 2,701 shares during the period. Two Sigma Investments LP boosted its holdings in shares of AnaptysBio by 66.4% during the fourth quarter. Two Sigma Investments LP now owns 352,034 shares of the biotechnology company's stock worth $4,661,000 after purchasing an additional 140,457 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of AnaptysBio by 81.7% during the fourth quarter. Squarepoint Ops LLC now owns 80,870 shares of the biotechnology company's stock worth $1,071,000 after purchasing an additional 36,365 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of AnaptysBio by 10.3% during the fourth quarter. California State Teachers Retirement System now owns 14,590 shares of the biotechnology company's stock worth $193,000 after purchasing an additional 1,359 shares during the period.

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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