AnaptysBio (NASDAQ:ANAB) Stock Price Up 5.4% - What's Next?

Key Points

• AnaptysBio shares rose 5.4% to about $47.89, although trading volume was roughly 94% below the stock’s average daily volume.
• Analyst sentiment remains generally positive: 13 analysts rate the stock Buy, with an average price target of $77.79, despite some recent target reductions and one Sell rating.
• The company reported stronger-than-expected quarterly results, with $5.11 EPS and $27.49 million in revenue versus consensus estimates of a loss of $0.46 per share and $14.06 million in revenue.

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) shares traded up 5.4% on Wednesday. The company traded as high as $47.88 and last traded at $47.8890. Approximately 39,486 shares traded hands during trading, a decline of 94% from the average session volume of 683,004 shares. The stock had previously closed at $45.43.

Analyst Upgrades and Downgrades

Several research firms recently commented on ANAB. HC Wainwright restated a "buy" rating and issued a $95.00 price target on shares of AnaptysBio in a research note on Tuesday, September 22nd. JPMorgan Chase & Co. dropped their price objective on shares of AnaptysBio from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, September 30th. TD Cowen dropped their price objective on shares of AnaptysBio from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, August 25th. Cantor Fitzgerald reissued an "overweight" rating on shares of AnaptysBio in a report on Tuesday, September 22nd. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of AnaptysBio in a research report on Friday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $77.79.

AnaptysBio Stock Performance

The company has a fifty day simple moving average of $53.21 and a two-hundred day simple moving average of $57.33. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 8.78 and a beta of 0.76.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its quarterly earnings results on Monday, September 21st. The biotechnology company reported $5.11 EPS for the quarter, topping analysts' consensus estimates of ($0.46) by $5.57. The company had revenue of $27.49 million for the quarter, compared to analysts' expectations of $14.06 million. AnaptysBio had a return on equity of 112.00% and a net margin of 82.37%. During the same quarter last year, the business earned ($1.30) earnings per share. As a group, equities analysts anticipate that AnaptysBio, Inc. will post -1.30 earnings per share for the current year.

Insider Transactions at AnaptysBio

In other AnaptysBio news, Director Hollings Renton sold 5,000 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $49.87, for a total transaction of $249,350.00. Following the sale, the director directly owned 10,995 shares in the company, valued at $548,320.65. This represents a 31.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 31.50% of the stock is owned by insiders.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently made changes to their positions in ANAB. Persistent Asset Partners Ltd bought a new position in AnaptysBio in the second quarter valued at about $39,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of AnaptysBio by 940.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,530 shares of the biotechnology company's stock worth $74,000 after acquiring an additional 1,383 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of AnaptysBio in the third quarter worth about $85,000. Group One Trading LLC acquired a new stake in shares of AnaptysBio in the 2nd quarter valued at approximately $140,000. Finally, State of Wyoming acquired a new position in AnaptysBio during the 2nd quarter worth approximately $158,000.

About AnaptysBio

AnaptysBio, Inc is a clinical-stage biotechnology company focused on developing antibody-based medicines for immune-mediated diseases. The company uses its proprietary antibody discovery and engineering platform to identify therapeutics designed to modulate immune-system pathways involved in inflammation and autoimmune disorders.

AnaptysBio's pipeline has included rosnilimab, an investigational antibody designed to activate the PD-1 immune checkpoint pathway, and imsidolimab, an investigational antibody targeting the interleukin-36 receptor.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.