AnaptysBio (NASDAQ:ANAB) Stock Price Up 2.5% - Time to Buy?

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report)'s stock price rose 2.5% during mid-day trading on Friday . The company traded as high as $19.60 and last traded at $19.12. Approximately 73,353 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 553,883 shares. The stock had previously closed at $18.65.

Analyst Ratings Changes

ANAB has been the subject of several recent research reports. Guggenheim reissued a "buy" rating on shares of AnaptysBio in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised their price target on shares of AnaptysBio from $36.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. HC Wainwright reaffirmed a "neutral" rating and set a $22.00 price objective on shares of AnaptysBio in a research note on Tuesday, March 4th. BTIG Research lowered shares of AnaptysBio from a "buy" rating to a "neutral" rating in a research note on Monday, December 2nd. Finally, Wedbush restated an "outperform" rating and issued a $40.00 price target on shares of AnaptysBio in a research report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $35.11.

AnaptysBio Stock Down 1.0 %

The company has a market cap of $564.27 million, a price-to-earnings ratio of -3.03 and a beta of 0.02. The stock's 50-day simple moving average is $17.19 and its 200 day simple moving average is $21.72.

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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) EPS for the quarter, topping the consensus estimate of ($1.61) by $0.89. The firm had revenue of $43.11 million for the quarter, compared to analyst estimates of $10.17 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. On average, sell-side analysts expect that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

AnaptysBio announced that its board has initiated a stock buyback 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 often a sign that the company's management believes its shares are undervalued.

Insider Activity at AnaptysBio

In other AnaptysBio news, Director Ecor1 Capital, Llc bought 6,646 shares of AnaptysBio stock in a transaction on Thursday, January 2nd. The shares were bought at an average cost of $12.95 per share, for a total transaction of $86,065.70. Following the acquisition, the director now directly owns 7,880,094 shares in the company, valued at $102,047,217.30. This represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 33.70% of the stock is currently owned by company insiders.

Institutional Trading of AnaptysBio

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its position in AnaptysBio by 131.3% in the 4th 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 purchased a new stake in shares of AnaptysBio during the fourth quarter worth approximately $40,000. AlphaQuest LLC raised its holdings in AnaptysBio by 1,891.5% in the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock valued at $59,000 after acquiring an additional 4,237 shares in the last quarter. 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 worth $63,000 after acquiring an additional 936 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in 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 acquiring an additional 5,360 shares during the last quarter.

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.