AnaptysBio (NASDAQ:ANAB) Stock Price Up 6.6% Following Insider Buying Activity

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) shot up 6.6% during mid-day trading on Friday after an insider bought additional shares in the company. The company traded as high as $34.77 and last traded at $34.59. 196,303 shares traded hands during trading, a decline of 41% from the average session volume of 335,301 shares. The stock had previously closed at $32.45.

Specifically, major shareholder Ecor1 Capital, Llc purchased 273,972 shares of the stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $36.50 per share, for a total transaction of $9,999,978.00. Following the completion of the acquisition, the insider now directly owns 7,794,996 shares in the company, valued at approximately $284,517,354. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

ANAB has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their target price on shares of AnaptysBio from $69.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Truist Financial raised their price objective on AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday. Wedbush reiterated an “outperform” rating and issued a $34.00 target price on shares of AnaptysBio in a research note on Friday, May 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of AnaptysBio in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.30.

AnaptysBio Stock Performance

The firm has a fifty day moving average of $29.34 and a 200 day moving average of $25.55. The firm has a market capitalization of $929.39 million, a PE ratio of -5.64 and a beta of -0.25.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.82). AnaptysBio had a negative net margin of 711.17% and a negative return on equity of 161.40%. The firm had revenue of $10.97 million during the quarter, compared to analyst estimates of $25.85 million. Research analysts forecast that AnaptysBio, Inc. will post -6.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AnaptysBio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in AnaptysBio during the 1st quarter valued at approximately $38,000. Headlands Technologies LLC grew its position in shares of AnaptysBio by 444.8% during the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock worth $89,000 after buying an additional 2,900 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of AnaptysBio by 66.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,123 shares of the biotechnology company’s stock worth $115,000 after buying an additional 2,051 shares in the last quarter. Quest Partners LLC bought a new stake in shares of AnaptysBio in the fourth quarter worth $119,000. Finally, SG Americas Securities LLC acquired a new stake in AnaptysBio in the fourth quarter valued at $126,000.

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.