AnaptysBio (NASDAQ:ANAB) Shares Up 5.6% – Here’s What Happened

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price was up 5.6% on Thursday . The company traded as high as $55.94 and last traded at $55.5740. 218,619 shares were traded during trading, a decline of 71% from the average daily volume of 763,288 shares. The stock had previously closed at $52.61.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ANAB. Leerink Partners set a $90.00 price objective on shares of AnaptysBio in a research note on Friday, May 15th. UBS Group upped their target price on AnaptysBio from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Zacks Research cut AnaptysBio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Weiss Ratings downgraded AnaptysBio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen lowered AnaptysBio from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.00.

AnaptysBio Price Performance

The business’s fifty day moving average price is $58.38 and its 200 day moving average price is $57.47. The stock has a market cap of $1.60 billion, a P/E ratio of -50.14 and a beta of 0.68.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts predict that AnaptysBio, Inc. will post -1.35 earnings per share for the current fiscal year.

AnaptysBio announced that its Board of Directors has authorized a share repurchase plan on Friday, March 27th that authorizes the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization authorizes the biotechnology company to buy up to 5,352,316.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of AnaptysBio

A number of hedge funds and other institutional investors have recently modified their holdings of ANAB. Tema ETFs LLC lifted its stake in shares of AnaptysBio by 0.6% in the 2nd quarter. Tema ETFs LLC now owns 31,270 shares of the biotechnology company’s stock valued at $2,111,000 after acquiring an additional 201 shares during the last quarter. Los Angeles Capital Management LLC grew its position in AnaptysBio by 1.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 15,101 shares of the biotechnology company’s stock worth $732,000 after acquiring an additional 225 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in AnaptysBio by 24.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,345 shares of the biotechnology company’s stock worth $65,000 after acquiring an additional 263 shares during the last quarter. Larson Financial Group LLC grew its position in AnaptysBio by 21.2% during the 4th quarter. Larson Financial Group LLC now owns 1,624 shares of the biotechnology company’s stock worth $79,000 after acquiring an additional 284 shares during the last quarter. Finally, Susquehanna Portfolio Strategies LLC increased its holdings in AnaptysBio by 1.4% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 35,948 shares of the biotechnology company’s stock worth $1,743,000 after purchasing an additional 500 shares in the last quarter.

AnaptysBio Company Profile

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.