AnaptysBio (NASDAQ:ANAB) Posts Earnings Results, Beats Estimates By $0.69 EPS

by · The Cerbat Gem

AnaptysBio (NASDAQ:ANABGet Free Report) announced its quarterly earnings data on Tuesday. The biotechnology company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.69, FiscalAI reports. The firm had revenue of $108.25 million during the quarter, compared to analysts’ expectations of $87.09 million. AnaptysBio had a negative net margin of 49.94% and a negative return on equity of 1,101.24%.

AnaptysBio Stock Performance

NASDAQ:ANAB traded down $2.08 during trading hours on Tuesday, hitting $52.83. The company’s stock had a trading volume of 241,333 shares, compared to its average volume of 462,244. AnaptysBio has a 52-week low of $13.99 and a 52-week high of $57.74. The business’s 50-day moving average is $49.76 and its two-hundred day moving average is $38.27. The company has a market capitalization of $1.46 billion, a PE ratio of -18.73 and a beta of 0.32.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ANAB shares. Barclays lifted their target price on AnaptysBio from $55.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. HC Wainwright lowered their target price on shares of AnaptysBio from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Wells Fargo & Company raised their price target on AnaptysBio from $51.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Stifel Nicolaus lowered their price target on AnaptysBio from $80.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Finally, UBS Group initiated coverage on AnaptysBio in a report on Wednesday, January 7th. They issued a “buy” rating and a $70.00 target price for the company. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.89.

View Our Latest Stock Report on AnaptysBio

Insider Activity at AnaptysBio

In other news, CEO Daniel Faga sold 15,309 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $43.26, for a total value of $662,267.34. Following the completion of the transaction, the chief executive officer owned 458,139 shares in the company, valued at $19,819,093.14. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Magda Marquet sold 11,000 shares of AnaptysBio stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $48.23, for a total value of $530,530.00. Following the transaction, the director directly owned 9,930 shares of the company’s stock, valued at $478,923.90. This trade represents a 52.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 156,280 shares of company stock valued at $7,254,939. Company insiders own 33.50% of the company’s stock.

Institutional Trading of AnaptysBio

A number of large investors have recently made changes to their positions in the stock. Man Group plc acquired a new stake in shares of AnaptysBio during the third quarter worth $394,000. Creative Planning increased its stake in AnaptysBio by 26.9% in the second quarter. Creative Planning now owns 16,854 shares of the biotechnology company’s stock valued at $374,000 after purchasing an additional 3,571 shares during the last quarter. SummitTX Capital L.P. purchased a new position in AnaptysBio during the fourth quarter worth about $316,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in AnaptysBio in the 3rd quarter worth about $315,000. Finally, Virtus Investment Advisers LLC boosted its stake in AnaptysBio by 21.8% in the 4th quarter. Virtus Investment Advisers LLC now owns 5,919 shares of the biotechnology company’s stock worth $287,000 after buying an additional 1,059 shares during the last quarter.

AnaptysBio declared that its Board of Directors has authorized a share buyback program on Friday, November 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the biotechnology company to buy up to 9.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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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