AnaptysBio (NASDAQ:ANAB) Trading 5.9% Higher – Should You Buy?

AnaptysBio, Inc. (NASDAQ:ANAB) shares rose 5.9% during mid-day trading on Tuesday . The stock traded as high as $66.58 and last traded at $65.9640. 321,154 shares changed hands during trading, a decline of 57% from the average daily volume of 749,931 shares. The stock had previously closed at $62.31.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ANAB shares. Truist Financial upgraded shares of AnaptysBio to a “hold” rating in a research note on Wednesday, March 25th. Weiss Ratings downgraded shares of AnaptysBio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Leerink Partners set a $90.00 target price on shares of AnaptysBio in a research report on Friday, May 15th. Wall Street Zen lowered shares of AnaptysBio from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Barclays increased their price target on AnaptysBio from $63.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, AnaptysBio presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.82.

AnaptysBio Stock Performance

The stock has a market cap of $2.02 billion, a PE ratio of -63.43 and a beta of 0.68. The company’s 50-day moving average price is $60.03 and its 200 day moving average price is $56.49.

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 analysts’ consensus estimates 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, sell-side analysts anticipate that AnaptysBio, Inc. will post -1.35 earnings per share for the current fiscal year.

AnaptysBio declared that its board has authorized a stock buyback program on Friday, March 27th that allows the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization allows the biotechnology company to purchase up to 5,352,316.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On AnaptysBio

Hedge funds have recently modified their holdings of the business. Granahan Investment Management LLC lifted its position in AnaptysBio by 12.2% during the third quarter. Granahan Investment Management LLC now owns 147,773 shares of the biotechnology company’s stock valued at $4,525,000 after purchasing an additional 16,118 shares in the last quarter. Vanguard Group Inc. increased its position in AnaptysBio by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company’s stock worth $74,855,000 after buying an additional 67,048 shares in the last quarter. Sofinnova Investments Inc. raised its stake in shares of AnaptysBio by 13.1% in the fourth quarter. Sofinnova Investments Inc. now owns 287,690 shares of the biotechnology company’s stock worth $13,947,000 after buying an additional 33,422 shares during the period. BNP Paribas Financial Markets raised its stake in shares of AnaptysBio by 56.0% in the fourth quarter. BNP Paribas Financial Markets now owns 164,823 shares of the biotechnology company’s stock worth $7,991,000 after buying an additional 59,160 shares during the period. Finally, 683 Capital Management LLC lifted its position 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 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.