AnaptysBio (NASDAQ:ANAB) Director Sells 5,000 Shares of Company Stock

Key Points

• AnaptysBio director Hollings Renton sold 5,000 shares at an average price of $49.87, generating $249,350. The Rule 10b5-1 transaction reduced the director’s holdings by 31.26% to 10,995 shares.
• AnaptysBio reported quarterly EPS of $5.11, exceeding analyst estimates by $5.57, while revenue of $27.49 million also surpassed expectations. Analysts project a full-year loss of $1.30 per share.
• ANAB shares traded near $48.53, well below the 52-week high of $72.36. Despite mixed analyst views, the stock carries a consensus “Moderate Buy” rating and an average price target of $77.79.

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) Director Hollings Renton sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $49.87, for a total value of $249,350.00. Following the completion of the sale, the director owned 10,995 shares of the company's stock, valued at $548,320.65. This represents a 31.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AnaptysBio Price Performance

Shares of NASDAQ ANAB traded down $0.10 during trading hours on Friday, reaching $48.53. The stock had a trading volume of 441,119 shares, compared to its average volume of 693,818. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 9.04 and a beta of 0.76. AnaptysBio, Inc. has a twelve month low of $19.65 and a twelve month high of $72.36. The business's fifty day moving average is $55.15 and its two-hundred day moving average is $58.69.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its quarterly earnings results on Monday, September 21st. The biotechnology company reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.46) by $5.57. AnaptysBio had a net margin of 82.37% and a return on equity of 112.00%. The firm had revenue of $27.49 million for the quarter, compared to the consensus estimate of $14.06 million. During the same quarter in the previous year, the company earned ($1.30) earnings per share. Sell-side analysts forecast that AnaptysBio, Inc. will post -1.3 earnings per share for the current fiscal year.

Institutional Trading of AnaptysBio

Hedge funds have recently modified their holdings of the company. First Light Asset Management LLC increased its holdings in AnaptysBio by 2.9% during the 2nd quarter. First Light Asset Management LLC now owns 582,004 shares of the biotechnology company's stock valued at $39,285,000 after purchasing an additional 16,573 shares in the last quarter. Squarepoint Ops LLC boosted its stake in AnaptysBio by 21.2% in the second quarter. Squarepoint Ops LLC now owns 324,446 shares of the biotechnology company's stock worth $21,900,000 after purchasing an additional 56,743 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of AnaptysBio by 13.5% during the second quarter. Arizona State Retirement System now owns 4,363 shares of the biotechnology company's stock worth $295,000 after purchasing an additional 518 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of AnaptysBio during the second quarter worth $1,164,000. Finally, Irenic Capital Management LP acquired a new stake in shares of AnaptysBio in the second quarter valued at $4,755,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ANAB. Wall Street Zen upgraded shares of AnaptysBio from a "hold" rating to a "buy" rating in a research note on Saturday, September 26th. Cantor Fitzgerald reissued an "overweight" rating on shares of AnaptysBio in a report on Tuesday, September 22nd. Leerink Partners cut their target price on AnaptysBio from $90.00 to $81.00 and set an "outperform" rating for the company in a research report on Wednesday, September 23rd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of AnaptysBio in a research note on Friday, August 7th. Finally, HC Wainwright reiterated a "buy" rating and issued a $95.00 price target on shares of AnaptysBio in a research report on Tuesday, September 22nd. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, AnaptysBio currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.79.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on developing antibody-based medicines for inflammatory and autoimmune diseases. The company uses its antibody discovery and engineering capabilities to identify therapies designed to modulate immune-system targets involved in disease.

AnaptysBio's pipeline has included rosnilimab, an investigational antibody designed to target CD200R1, a receptor involved in regulating immune-cell activity. The company has evaluated rosnilimab in inflammatory and autoimmune conditions, including rheumatoid arthritis and ulcerative colitis.

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