AnaptysBio (NASDAQ:ANAB) Posts Quarterly Earnings Results, Beats Estimates By $1.84 EPS

AnaptysBio (NASDAQ:ANAB) released its quarterly earnings data on Tuesday. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.32) by $1.84, Zacks reports. AnaptysBio had a negative return on equity of 366.98% and a negative net margin of 107.66%.

AnaptysBio Stock Performance

NASDAQ:ANAB traded down $1.30 during mid-day trading on Tuesday, reaching $34.74. The stock had a trading volume of 242,838 shares, compared to its average volume of 701,162. The firm has a market capitalization of $972.72 million, a price-to-earnings ratio of -7.75 and a beta of 0.16. AnaptysBio has a twelve month low of $12.21 and a twelve month high of $38.38. The business has a 50 day simple moving average of $27.75 and a 200 day simple moving average of $24.37.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on AnaptysBio from $42.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. UBS Group reaffirmed a “neutral” rating and set a $20.00 price objective (up previously from $18.00) on shares of AnaptysBio in a report on Tuesday, August 12th. Wedbush raised their price objective on AnaptysBio from $45.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Finally, HC Wainwright increased their target price on shares of AnaptysBio from $38.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.30.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds have recently bought and sold shares of ANAB. Tower Research Capital LLC TRC increased its stake in AnaptysBio by 175.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,377 shares in the last quarter. Osaic Holdings Inc. grew its stake in AnaptysBio by 11,630.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 2,326 shares during the period. Creative Planning boosted its holdings in shares of AnaptysBio by 26.9% during the second quarter. Creative Planning now owns 16,854 shares of the biotechnology company’s stock worth $374,000 after purchasing an additional 3,571 shares during the last quarter. Brevan Howard Capital Management LP boosted its holdings in shares of AnaptysBio by 61.7% during the second quarter. Brevan Howard Capital Management LP now owns 22,953 shares of the biotechnology company’s stock worth $510,000 after purchasing an additional 8,761 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of AnaptysBio during the second quarter worth $528,000.

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.