AnaptysBio (NASDAQ:ANAB) Given New $90.00 Price Target at UBS Group

AnaptysBio (NASDAQ:ANAB) had its price target hoisted by UBS Group from $70.00 to $90.00 in a research report released on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the biotechnology company’s stock.

Several other brokerages also recently issued reports on ANAB. Truist Financial lifted their price objective on AnaptysBio from $36.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, March 6th. Barclays increased their target price on AnaptysBio from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Wall Street Zen lowered AnaptysBio from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Guggenheim reaffirmed a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th. Finally, Wedbush upped their price target on shares of AnaptysBio from $60.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, March 12th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.44.

AnaptysBio Stock Up 3.9%

Shares of AnaptysBio stock opened at $67.29 on Tuesday. AnaptysBio has a 12-month low of $15.32 and a 12-month high of $68.39. The stock has a market capitalization of $1.93 billion, a P/E ratio of -129.40 and a beta of 0.32. The company has a 50-day simple moving average of $52.65 and a 200 day simple moving average of $41.45.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.69. The firm had revenue of $108.25 million for the quarter, compared to analyst estimates of $87.09 million. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. On average, equities analysts anticipate that AnaptysBio will post -6.08 earnings per share for the current year.

AnaptysBio declared that its Board of Directors has authorized a share repurchase program on Friday, November 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the biotechnology company to purchase up to 9.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Daniel Faga sold 15,309 shares of AnaptysBio stock in a transaction on Monday, January 5th. The shares were sold at an average price of $43.26, for a total value of $662,267.34. Following the completion of the sale, the chief executive officer owned 458,139 shares of the company’s stock, valued at approximately $19,819,093.14. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric J. Loumeau sold 10,000 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $51.00, for a total transaction of $510,000.00. Following the transaction, the insider owned 8,947 shares in the company, valued at approximately $456,297. The trade was a 52.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 118,055 shares of company stock worth $5,528,922 over the last quarter. Corporate insiders own 33.50% of the company’s stock.

Institutional Trading of AnaptysBio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANAB. Federated Hermes Inc. grew its holdings in AnaptysBio by 2,236.6% during the third quarter. Federated Hermes Inc. now owns 193,327 shares of the biotechnology company’s stock worth $5,920,000 after buying an additional 185,053 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in AnaptysBio in the 2nd quarter valued at $741,000. Assenagon Asset Management S.A. lifted its stake in AnaptysBio by 4,852.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock valued at $25,719,000 after acquiring an additional 822,975 shares in the last quarter. 683 Capital Management LLC lifted its stake in AnaptysBio by 155.6% during the 2nd quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock valued at $11,100,000 after acquiring an additional 304,373 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in AnaptysBio during the 2nd quarter worth $680,000.

About AnaptysBio

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.