Key Points
- Dennis Mulroy, AnaptysBio's CFO, sold 15,725 shares on Dec. 16 at an average price of $44.85 for about $705,266, reducing his stake by 62.58% to 9,401 shares valued around $421,635.
- AnaptysBio posted a big quarterly beat on Nov. 4 with EPS of $0.52 (vs. -$1.06 expected) and revenue of $76.32 million (vs. $15.83M expected), even though analysts still forecast a negative full-year EPS.
- The board approved a $100 million share buyback program (up to ~9.6% of outstanding shares), indicating management may consider the stock undervalued.
AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) insider Eric Loumeau sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $46.00, for a total value of $460,000.00. Following the completion of the sale, the insider directly owned 9,088 shares of the company's stock, valued at $418,048. This represents a 52.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
AnaptysBio Trading Up 4.0%
Shares of ANAB stock opened at $47.53 on Friday. AnaptysBio, Inc. has a 1 year low of $12.21 and a 1 year high of $48.44. The firm's fifty day simple moving average is $38.44 and its 200 day simple moving average is $28.73. The firm has a market capitalization of $1.32 billion, a P/E ratio of -16.85 and a beta of 0.29.
AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of ($1.06) by $1.58. The firm had revenue of $76.32 million during the quarter, compared to the consensus estimate of $15.83 million. AnaptysBio had a negative net margin of 49.94% and a negative return on equity of 1,101.24%. Equities research analysts anticipate that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.
AnaptysBio announced that its board has authorized a stock buyback plan on Friday, November 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the biotechnology company to reacquire up to 9.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Guggenheim restated a "buy" rating on shares of AnaptysBio in a research note on Thursday. Wedbush reissued an "outperform" rating and set a $50.00 price objective on shares of AnaptysBio in a report on Monday, November 24th. Truist Financial boosted their price objective on AnaptysBio from $20.00 to $36.00 and gave the company a "hold" rating in a research report on Monday, November 10th. HC Wainwright cut their target price on AnaptysBio from $52.00 to $51.00 and set a "buy" rating for the company in a research note on Monday, November 24th. Finally, Wall Street Zen upgraded shares of AnaptysBio from a "buy" rating to a "strong-buy" rating in a research note on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, AnaptysBio has an average rating of "Moderate Buy" and an average target price of $55.40.
Read Our Latest Analysis on AnaptysBio
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Tudor Investment Corp ET AL boosted its stake in shares of AnaptysBio by 47.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 13,869 shares of the biotechnology company's stock valued at $425,000 after purchasing an additional 4,450 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in AnaptysBio by 2.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 378,452 shares of the biotechnology company's stock worth $11,588,000 after buying an additional 10,005 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of AnaptysBio during the third quarter worth approximately $315,000. Larson Financial Group LLC raised its stake in shares of AnaptysBio by 54.6% in the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company's stock valued at $41,000 after acquiring an additional 473 shares during the last quarter. Finally, Granahan Investment Management LLC boosted its holdings in shares of AnaptysBio by 12.2% in the 3rd quarter. Granahan Investment Management LLC now owns 147,773 shares of the biotechnology company's stock worth $4,525,000 after acquiring an additional 16,118 shares in the last quarter.
AnaptysBio Company Profile
(
Get Free Report)
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.
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