AnaptysBio (NASDAQ:ANAB) Sees Unusually-High Trading Volume – Should You Buy?

AnaptysBio, Inc. (NASDAQ:ANAB) saw unusually-strong trading volume on Friday . Approximately 528,569 shares changed hands during trading, an increase of 2% from the previous session’s volume of 518,362 shares.The stock last traded at $62.7370 and had previously closed at $64.72.

Analyst Ratings Changes

Several brokerages recently issued reports on ANAB. Truist Financial upped their target price on shares of AnaptysBio from $36.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, March 6th. Guggenheim restated a “buy” rating on shares of AnaptysBio in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a research note on Wednesday, January 21st. Stifel Nicolaus upped their price objective on AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Wedbush increased their price objective on AnaptysBio from $60.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, March 12th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued 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 a consensus price target of $78.44.

AnaptysBio Price Performance

The stock has a market capitalization of $1.79 billion, a PE ratio of -119.94 and a beta of 0.32. The firm’s 50 day simple moving average is $53.81 and its 200 day simple moving average is $42.21.

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

Insider Activity

In other AnaptysBio news, insider Eric J. Loumeau sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 8,947 shares of the company’s stock, valued at $456,297. This represents a 52.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul F. Lizzul sold 4,219 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $43.26, for a total value of $182,513.94. Following the completion of the sale, the insider owned 33,303 shares of the company’s stock, valued at approximately $1,440,687.78. This trade represents a 11.24% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 117,914 shares of company stock valued at $5,522,297. 33.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds have recently made changes to their positions in ANAB. AQR Capital Management LLC lifted its holdings in AnaptysBio by 153.3% in the first quarter. AQR Capital Management LLC now owns 30,011 shares of the biotechnology company’s stock worth $558,000 after buying an additional 18,165 shares during the period. Creative Planning raised its position in shares of AnaptysBio by 26.9% in the 2nd quarter. Creative Planning now owns 16,854 shares of the biotechnology company’s stock worth $374,000 after acquiring an additional 3,571 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of AnaptysBio in the 2nd quarter valued at approximately $240,000. JPMorgan Chase & Co. lifted its stake in shares of AnaptysBio by 1,631.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock valued at $5,497,000 after purchasing an additional 233,325 shares during the period. Finally, DCF Advisers LLC boosted its position in shares of AnaptysBio by 37.7% during the second quarter. DCF Advisers LLC now owns 48,000 shares of the biotechnology company’s stock valued at $1,066,000 after purchasing an additional 13,150 shares in 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.