AnaptysBio (NASDAQ:ANAB) Shares Up 11.1% – Should You Buy?

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price was up 11.1% on Monday . The stock traded as high as $24.83 and last traded at $24.74. Approximately 420,991 shares changed hands during trading, an increase of 20% from the average daily volume of 352,087 shares. The stock had previously closed at $22.27.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ANAB. Truist Financial raised their price objective on AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. decreased their price target on shares of AnaptysBio from $75.00 to $66.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Guggenheim boosted their price objective on shares of AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Wedbush reiterated an “outperform” rating and issued a $42.00 target price on shares of AnaptysBio in a research report on Thursday, November 14th. Finally, UBS Group lifted their target price on shares of AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.64.

AnaptysBio Stock Performance

The firm has a market cap of $764.40 million, a price-to-earnings ratio of -4.13 and a beta of -0.24. The firm’s 50 day moving average is $28.65 and its 200-day moving average is $29.71.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, beating the consensus estimate of ($1.72) by $0.58. The company had revenue of $30.02 million for the quarter, compared to analyst estimates of $7.92 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. As a group, research analysts predict that AnaptysBio, Inc. will post -6.02 EPS for the current year.

Insider Buying and Selling

In other news, CFO Dennis Mulroy sold 12,220 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $39.91, for a total value of $487,700.20. Following the sale, the chief financial officer now directly owns 4,744 shares of the company’s stock, valued at approximately $189,333.04. This trade represents a 72.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul F. Lizzul sold 1,500 shares of AnaptysBio stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.67, for a total value of $58,005.00. Following the completion of the transaction, the insider now owns 15,398 shares in the company, valued at $595,440.66. The trade was a 8.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,440 shares of company stock worth $892,936. 33.70% of the stock is currently owned by insiders.

Institutional Trading of AnaptysBio

Several hedge funds have recently added to or reduced their stakes in ANAB. Values First Advisors Inc. bought a new position in AnaptysBio in the 3rd quarter worth approximately $49,000. nVerses Capital LLC increased its position in AnaptysBio by 700.0% during the third quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock worth $54,000 after acquiring an additional 1,400 shares during the period. Headlands Technologies LLC increased its position in AnaptysBio by 444.8% during the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock worth $89,000 after acquiring an additional 2,900 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in AnaptysBio by 81.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Point72 DIFC Ltd boosted its holdings in AnaptysBio by 680.5% in the 3rd quarter. Point72 DIFC Ltd now owns 6,127 shares of the biotechnology company’s stock valued at $205,000 after purchasing an additional 5,342 shares during the period.

AnaptysBio Company Profile

AnaptysBio, Inc, a clinical-stage biotechnology company, focuses in delivering immunology therapeutics. Its products include Rosnilimab, an IgG1 antibody that targets PD-1+ T cells, resulting in their agonism or depletion, broadly impacting pathogenic drivers of autoimmune and inflammatory diseases; and ANB032, a non-depleting antibody that binds to the BTLA checkpoint receptor and inhibits activated T cell proliferation; ANB033, a novel anti-CD122 antagonist antibody that targets the shared common beta subunit of the receptors for IL-15 and IL-2; ANB101, a BDCA2 modulator antibody that specifically targets plasmacytoid dendritic cells (pDCs); and Imsidolimab, an antibody that inhibits the interleukin-36 receptor, which is in the Phase 3 development for the treatment of generalized pustular psoriasis.