AnaptysBio (NASDAQ:ANAB) Trading 5.3% Higher – Here’s What Happened

AnaptysBio, Inc. (NASDAQ:ANAB) shot up 5.3% during mid-day trading on Friday . The stock traded as high as $56.54 and last traded at $57.00. 47,244 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 753,749 shares. The stock had previously closed at $54.15.

Analysts Set New Price Targets

A number of research firms recently issued reports on ANAB. Zacks Research lowered AnaptysBio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. HC Wainwright initiated coverage on AnaptysBio in a research note on Wednesday, June 10th. They issued a “buy” rating and a $95.00 target price for the company. Leerink Partners set a $90.00 price target on AnaptysBio in a research report on Friday, May 15th. Piper Sandler decreased their price target on AnaptysBio from $95.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Finally, Barclays increased their price target on shares of AnaptysBio from $63.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.82.

AnaptysBio Trading Up 5.5%

The business has a fifty day moving average price of $59.72 and a 200-day moving average price of $57.30. The stock has a market capitalization of $1.69 billion, a PE ratio of -52.93 and a beta of 0.68.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($1.20). The company had revenue of $25.56 million for the quarter, compared to the consensus estimate of $18.86 million. On average, equities analysts anticipate that AnaptysBio, Inc. will post -1.35 earnings per share for the current fiscal year.

AnaptysBio announced that its board has authorized a stock buyback plan on Friday, March 27th that permits the company to buyback $100,000.00 billion in outstanding shares. This buyback authorization permits the biotechnology company to purchase up to 5,352,316.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On AnaptysBio

Several hedge funds have recently bought and sold shares of ANAB. AQR Capital Management LLC increased its stake in shares of AnaptysBio by 153.3% during the first quarter. AQR Capital Management LLC now owns 30,011 shares of the biotechnology company’s stock valued at $558,000 after purchasing an additional 18,165 shares in the last quarter. Creative Planning grew its stake in shares of AnaptysBio by 26.9% in the 2nd quarter. Creative Planning now owns 16,854 shares of the biotechnology company’s stock worth $374,000 after buying an additional 3,571 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of AnaptysBio by 1,631.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock worth $5,497,000 after buying an additional 233,325 shares during the last quarter. Russell Investments Group Ltd. bought a new position in AnaptysBio during the 2nd quarter valued at approximately $528,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in AnaptysBio during the 2nd quarter valued at approximately $3,348,000.

About AnaptysBio

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.