AnaptysBio, Inc. (NASDAQ:ANAB) Director Sells $493,202.25 in Stock

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) 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 transaction of $493,202.25. Following the transaction, the director owned 4,965 shares of the company's stock, valued at $117,025.05. The trade was a 80.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

AnaptysBio Stock Up 0.7%

NASDAQ ANAB traded up $0.17 during trading hours on Friday, hitting $24.05. 212,764 shares of the company were exchanged, compared to its average volume of 643,024. The stock has a 50-day moving average price of $21.93 and a 200 day moving average price of $18.62. AnaptysBio, Inc. has a 52 week low of $12.21 and a 52 week high of $41.31. The stock has a market cap of $706.44 million, a PE ratio of -4.96 and a beta of -0.27.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.30) by $0.02. AnaptysBio had a negative net margin of 125.70% and a negative return on equity of 282.47%. The business had revenue of $27.77 million during the quarter, compared to the consensus estimate of $15.27 million. As a group, sell-side analysts anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio declared that its Board of Directors has approved a share buyback program on Monday, March 24th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the biotechnology company to repurchase up to 13.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

ANAB has been the topic of several recent analyst reports. Johnson Rice reiterated a "buy" rating on shares of AnaptysBio in a research note on Wednesday, March 26th. Wedbush reiterated an "outperform" rating and issued a $40.00 price objective on shares of AnaptysBio in a research note on Thursday, May 29th. HC Wainwright upgraded shares of AnaptysBio from a "neutral" rating to a "buy" rating and lifted their target price for the company from $22.00 to $38.00 in a research note on Wednesday, June 4th. Finally, Guggenheim restated a "buy" rating and issued a $90.00 price target (up from $54.00) on shares of AnaptysBio in a research note on Wednesday, May 28th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AnaptysBio presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.38.

Institutional Trading of AnaptysBio

Several institutional investors and hedge funds have recently modified their holdings of ANAB. US Bancorp DE raised its holdings in shares of AnaptysBio by 126.5% in the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock valued at $33,000 after purchasing an additional 979 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of AnaptysBio by 9,778.9% during the first 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 raised its holdings in shares of AnaptysBio by 131.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock worth $36,000 after buying an additional 1,531 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of AnaptysBio during the fourth quarter valued at $40,000. Finally, AlphaQuest LLC increased its position in shares of AnaptysBio by 1,891.5% in the 4th 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 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.