AnaptysBio (NASDAQ:ANAB) Shares Gap Up After Analyst Upgrade

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price gapped up before the market opened on Wednesday after Guggenheim raised their price target on the stock from $54.00 to $90.00. The stock had previously closed at $20.13, but opened at $21.14. Guggenheim currently has a buy rating on the stock. AnaptysBio shares last traded at $22.10, with a volume of 190,490 shares.

Several other analysts have also recently weighed in on ANAB. Wolfe Research initiated coverage on AnaptysBio in a report on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price target on the stock. Wells Fargo & Company boosted their price target on AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Wedbush restated an “outperform” rating and set a $40.00 price target on shares of AnaptysBio in a report on Thursday, May 1st. HC Wainwright restated a “neutral” rating and set a $22.00 price target on shares of AnaptysBio in a report on Tuesday, March 4th. Finally, Johnson Rice reiterated a “buy” rating on shares of AnaptysBio in a report on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.38.

Institutional Trading of AnaptysBio

Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in AnaptysBio by 0.8% in the fourth quarter. Wellington Management Group LLP now owns 66,467 shares of the biotechnology company’s stock valued at $880,000 after acquiring an additional 528 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in AnaptysBio by 11.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,452 shares of the biotechnology company’s stock valued at $85,000 after buying an additional 644 shares during the period. Rhumbline Advisers lifted its stake in AnaptysBio by 2.7% in the first quarter. Rhumbline Advisers now owns 30,903 shares of the biotechnology company’s stock valued at $574,000 after buying an additional 826 shares during the period. Virtus ETF Advisers LLC lifted its stake in AnaptysBio by 24.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 936 shares during the period. Finally, US Bancorp DE lifted its stake in AnaptysBio by 126.5% in the first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 979 shares during the period.

AnaptysBio Stock Up 4.5%

The company has a 50 day simple moving average of $19.50 and a 200-day simple moving average of $18.24. The stock has a market capitalization of $618.30 million, a price-to-earnings ratio of -3.45 and a beta of -0.20.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.30) by $0.02. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The firm had revenue of $27.77 million for the quarter, compared to analyst estimates of $15.27 million. As a group, sell-side analysts anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio declared that its Board of Directors has initiated a stock buyback plan on Monday, March 24th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the biotechnology company to repurchase up to 13.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.