AnaptysBio (NASDAQ:ANAB) Stock Price Up 5.3% – Still a Buy?

AnaptysBio, Inc. (NASDAQ:ANAB) rose 5.3% during mid-day trading on Friday . The company traded as high as $56.54 and last traded at $57.00. 47,244 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 753,749 shares. The stock had previously closed at $54.15.

Analysts Set New Price Targets

Several research analysts have recently commented on ANAB shares. HC Wainwright started coverage on AnaptysBio in a research report on Wednesday, June 10th. They set a “buy” rating and a $95.00 price target for the company. Leerink Partners set a $90.00 target price on shares of AnaptysBio in a research note on Friday, May 15th. Wall Street Zen lowered AnaptysBio from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group lifted their target price on AnaptysBio from $60.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Zacks Research downgraded AnaptysBio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.82.

AnaptysBio Trading Up 7.1%

The firm’s fifty day moving average price is $59.50 and its 200-day moving average price is $57.30. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -53.70 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) 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 analysts’ expectations of $18.86 million. On average, sell-side analysts expect that AnaptysBio, Inc. will post -1.35 earnings per share for the current year.

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

Institutional Trading of AnaptysBio

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of AnaptysBio by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company’s stock valued at $74,855,000 after purchasing an additional 67,048 shares during the period. Sofinnova Investments Inc. lifted its holdings in shares of AnaptysBio by 13.1% during the fourth quarter. Sofinnova Investments Inc. now owns 287,690 shares of the biotechnology company’s stock worth $13,947,000 after purchasing an additional 33,422 shares during the period. 683 Capital Management LLC lifted its holdings in shares of AnaptysBio by 18.5% during the fourth quarter. 683 Capital Management LLC now owns 648,093 shares of the biotechnology company’s stock worth $31,420,000 after purchasing an additional 101,093 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of AnaptysBio by 56.0% during the fourth quarter. BNP Paribas Financial Markets now owns 164,823 shares of the biotechnology company’s stock worth $7,991,000 after purchasing an additional 59,160 shares during the period. Finally, Tema Etfs LLC grew its position in AnaptysBio by 105.6% in the 4th quarter. Tema Etfs LLC now owns 22,560 shares of the biotechnology company’s stock valued at $1,094,000 after buying an additional 11,585 shares during the last quarter.

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.