Key Points
- Insider sale: Eric Loumeau sold 10,000 shares on Feb. 11 at an average price of $54 for a $540,000 transaction, reducing his position by 43.79% to 12,835 shares (SEC filing).
- Share buyback authorized: AnaptysBio's board approved a $100 million repurchase program (up to ~9.6% of shares), a signal that management may view the stock as undervalued.
- Market and analyst view: The stock has recently traded near $53 (down ~3.3%), and analysts hold a consensus "Moderate Buy" with a $66.89 target price.
AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) insider Eric Loumeau sold 10,000 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.00, for a total transaction of $540,000.00. Following the transaction, the insider owned 12,835 shares of the company's stock, valued at $693,090. The trade was a 43.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
AnaptysBio Trading Down 3.3%
Shares of ANAB stock opened at $53.08 on Friday. The firm's fifty day moving average price is $47.85 and its two-hundred day moving average price is $35.59. The firm has a market capitalization of $1.47 billion, a P/E ratio of -18.82 and a beta of 0.35. AnaptysBio, Inc. has a 1 year low of $13.99 and a 1 year high of $57.65.
AnaptysBio declared that its board has authorized a share 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 purchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Analyst Ratings Changes
A number of analysts have commented on ANAB shares. Stifel Nicolaus cut their price target on shares of AnaptysBio from $80.00 to $56.00 and set a "buy" rating for the company in a research note on Thursday, December 11th. Wedbush reaffirmed an "outperform" rating and issued a $50.00 price objective on shares of AnaptysBio in a research report on Monday, November 24th. Truist Financial lifted their target price on AnaptysBio from $20.00 to $36.00 and gave the stock a "hold" rating in a research note on Monday, November 10th. Guggenheim restated a "buy" rating on shares of AnaptysBio in a research note on Thursday, December 18th. Finally, Wells Fargo & Company lifted their price objective on shares of AnaptysBio from $51.00 to $81.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 5th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.89.
Check Out Our Latest Report on ANAB
Hedge Funds Weigh In On AnaptysBio
Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its position in shares of AnaptysBio by 153.3% during the 1st quarter. AQR Capital Management LLC now owns 30,011 shares of the biotechnology company's stock worth $558,000 after purchasing an additional 18,165 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of AnaptysBio during the 2nd quarter worth $337,000. Bleakley Financial Group LLC bought a new position in shares of AnaptysBio in the second quarter worth $834,000. Corton Capital Inc. raised its position in shares of AnaptysBio by 12.2% in the 2nd quarter. Corton Capital Inc. now owns 12,004 shares of the biotechnology company's stock valued at $266,000 after buying an additional 1,305 shares in the last quarter. Finally, Savant Capital LLC bought a new stake in shares of AnaptysBio during the 2nd quarter worth approximately $241,000.
About AnaptysBio
(
Get Free Report)
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.
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