AnaptysBio (NASDAQ:ANAB) Trading 5.6% Higher – Here’s What Happened

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price was up 5.6% on Thursday . The stock traded as high as $55.94 and last traded at $55.5740. 218,619 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 763,288 shares. The stock had previously closed at $52.61.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ANAB shares. Truist Financial raised AnaptysBio to a “hold” rating in a report on Wednesday, March 25th. Zacks Research downgraded shares of AnaptysBio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Barclays lifted their price objective on shares of AnaptysBio from $63.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. HC Wainwright initiated coverage on shares of AnaptysBio in a report on Wednesday, June 10th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Weiss Ratings cut shares of AnaptysBio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.82.

AnaptysBio Trading Up 5.7%

The stock has a 50-day moving average of $58.71 and a two-hundred day moving average of $57.43. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -51.42 and a beta of 0.68.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data 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 business had revenue of $25.56 million during the quarter, compared to analysts’ expectations of $18.86 million. Sell-side analysts expect that AnaptysBio, Inc. will post -1.35 EPS for the current fiscal year.

AnaptysBio announced that its Board of Directors has approved a stock buyback plan on Friday, March 27th that permits the company to repurchase $100,000.00 billion in shares. This repurchase authorization permits the biotechnology company to reacquire up to 5,352,316.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Trading of AnaptysBio

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in AnaptysBio by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company’s stock valued at $74,855,000 after buying an additional 67,048 shares during the period. Sofinnova Investments Inc. boosted its stake in shares of AnaptysBio by 13.1% during the 4th quarter. Sofinnova Investments Inc. now owns 287,690 shares of the biotechnology company’s stock valued at $13,947,000 after buying an additional 33,422 shares during the period. 683 Capital Management LLC boosted its stake in shares of AnaptysBio by 18.5% during the 4th quarter. 683 Capital Management LLC now owns 648,093 shares of the biotechnology company’s stock valued at $31,420,000 after buying an additional 101,093 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of AnaptysBio by 56.0% during the 4th quarter. BNP Paribas Financial Markets now owns 164,823 shares of the biotechnology company’s stock valued at $7,991,000 after acquiring an additional 59,160 shares in the last quarter. Finally, Tema Etfs LLC grew its holdings in shares of AnaptysBio by 105.6% during the 4th quarter. Tema Etfs LLC now owns 22,560 shares of the biotechnology company’s stock valued at $1,094,000 after acquiring an additional 11,585 shares in the last quarter.

AnaptysBio Company Profile

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.