AnaptysBio (NASDAQ:ANAB) Posts Earnings Results

AnaptysBio (NASDAQ:ANAB) announced its earnings results on Tuesday. The biotechnology company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($1.20), FiscalAI reports. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. The business had revenue of $25.56 million during the quarter, compared to analyst estimates of $18.86 million.

AnaptysBio Trading Down 3.4%

ANAB traded down $2.34 during trading on Tuesday, reaching $65.58. 853,310 shares of the company were exchanged, compared to its average volume of 816,023. The stock has a market cap of $1.91 billion, a P/E ratio of -126.11 and a beta of 0.79. The firm has a 50 day moving average of $62.19 and a 200 day moving average of $50.99. AnaptysBio has a 52 week low of $11.40 and a 52 week high of $72.36.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ANAB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a research report on Wednesday, January 21st. Barclays cut their target price on AnaptysBio from $79.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Wall Street Zen raised AnaptysBio from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Truist Financial raised AnaptysBio to a “hold” rating in a research report on Wednesday, March 25th. Finally, Leerink Partners upped their price target on AnaptysBio from $66.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.18.

AnaptysBio declared that its Board of Directors has approved a share buyback program on Friday, March 27th that authorizes the company to buyback $100,000.00 billion in shares. This buyback authorization authorizes the biotechnology company to repurchase up to 5,352,316.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Daniel Faga sold 17,679 shares of the company’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $61.61, for a total transaction of $1,089,203.19. Following the completion of the transaction, the chief executive officer directly owned 495,965 shares in the company, valued at $30,556,403.65. This represents a 3.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric J. Loumeau sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.00, for a total value of $540,000.00. Following the transaction, the insider owned 12,835 shares of the company’s stock, valued at approximately $693,090. The trade was a 43.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,324 shares of company stock worth $2,787,594 in the last three months. 33.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its stake in AnaptysBio by 5,864.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company’s stock worth $40,000 after buying an additional 821 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of AnaptysBio by 54.6% in the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 473 shares in the last quarter. Royal Bank of Canada grew its stake in shares of AnaptysBio by 987.3% in the fourth quarter. Royal Bank of Canada now owns 1,718 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 1,560 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of AnaptysBio by 175.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 1,377 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of AnaptysBio by 11,630.0% in the second quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 2,326 shares in the last quarter.

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.