AnaptysBio (NASDAQ:ANAB) Shares Gap Up - Should You Buy?

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $17.08, but opened at $18.01. AnaptysBio shares last traded at $19.49, with a volume of 220,227 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on ANAB shares. Truist Financial cut their price objective on shares of AnaptysBio from $30.00 to $20.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company lifted their price target on shares of AnaptysBio from $40.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. BTIG Research downgraded shares of AnaptysBio from a "buy" rating to a "neutral" rating in a report on Monday, December 2nd. JPMorgan Chase & Co. lifted their target price on shares of AnaptysBio from $36.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Finally, Wedbush restated an "outperform" rating and set a $40.00 price target on shares of AnaptysBio in a report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.11.

AnaptysBio Stock Performance

The company's 50 day moving average price is $17.08 and its 200 day moving average price is $22.17. The company has a market cap of $575.96 million, a price-to-earnings ratio of -3.09 and a beta of 0.02.

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AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.61) by $0.89. The firm had revenue of $43.11 million during the quarter, compared to the consensus estimate of $10.17 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. As a group, analysts predict that AnaptysBio, Inc. will post -6.08 EPS for the current year.

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

Insider Activity

In related news, Director Ecor1 Capital, Llc acquired 65,184 shares of the stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $12.92 per share, with a total value of $842,177.28. Following the completion of the transaction, the director now directly owns 7,860,180 shares of the company's stock, valued at approximately $101,553,525.60. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 33.70% of the company's stock.

Hedge Funds Weigh In On AnaptysBio

A number of large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in shares of AnaptysBio by 131.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock valued at $36,000 after purchasing an additional 1,531 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in AnaptysBio in the 4th quarter valued at approximately $40,000. AlphaQuest LLC boosted its position in AnaptysBio by 1,891.5% during the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock worth $59,000 after acquiring an additional 4,237 shares during the last quarter. Virtus ETF Advisers LLC raised its holdings in shares of 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 purchasing an additional 936 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of AnaptysBio by 1,585.8% in the fourth quarter. Russell Investments Group Ltd. now owns 5,698 shares of the biotechnology company's stock worth $75,000 after purchasing an additional 5,360 shares in the last quarter.

About AnaptysBio

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.