AnaptysBio (NASDAQ:ANAB) Sees Strong Trading Volume

AnaptysBio, Inc. (NASDAQ:ANAB) shares saw unusually-strong trading volume on Tuesday . Approximately 435,513 shares traded hands during trading, an increase of 35% from the previous session’s volume of 323,309 shares.The stock last traded at $23.39 and had previously closed at $21.30.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ANAB. Wells Fargo & Company began coverage on AnaptysBio in a research note on Thursday, April 11th. They issued an “overweight” rating and a $56.00 price target for the company. Leerink Partnrs restated an “outperform” rating on shares of AnaptysBio in a research note on Tuesday, April 16th. Wedbush upgraded shares of AnaptysBio from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $20.00 to $34.00 in a research note on Tuesday, March 12th. BTIG Research began coverage on shares of AnaptysBio in a report on Monday, February 26th. They issued a “buy” rating and a $55.00 price objective for the company. Finally, SVB Leerink started coverage on shares of AnaptysBio in a report on Tuesday, April 16th. They set an “outperform” rating and a $47.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, AnaptysBio has a consensus rating of “Moderate Buy” and an average price target of $46.22.

AnaptysBio Stock Up 14.3 %

The firm has a market capitalization of $664.97 million, a P/E ratio of -3.89 and a beta of -0.30. The business’s 50 day moving average is $22.87 and its 200-day moving average is $20.61.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Monday, March 11th. The biotechnology company reported ($1.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.74) by $0.15. AnaptysBio had a negative return on equity of 119.42% and a negative net margin of 953.66%. The firm had revenue of $9.01 million for the quarter, compared to the consensus estimate of $3.28 million. Research analysts forecast that AnaptysBio, Inc. will post -6.17 EPS for the current fiscal year.

Insider Buying and Selling at AnaptysBio

In other news, insider Eric J. Loumeau sold 5,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the transaction, the insider now owns 3,240 shares of the company’s stock, valued at $81,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Eric J. Loumeau sold 5,000 shares of AnaptysBio stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the insider now directly owns 3,240 shares of the company’s stock, valued at approximately $81,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Faga sold 3,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $21.42, for a total transaction of $64,260.00. Following the completion of the transaction, the chief executive officer now directly owns 749,087 shares of the company’s stock, valued at approximately $16,045,443.54. The disclosure for this sale can be found here. Insiders have sold a total of 153,940 shares of company stock worth $3,513,773 over the last 90 days. Insiders own 35.50% of the company’s stock.

Institutional Trading of AnaptysBio

A number of hedge funds have recently made changes to their positions in the company. Hudson Bay Capital Management LP lifted its holdings in shares of AnaptysBio by 100.0% during the third quarter. Hudson Bay Capital Management LP now owns 100,000 shares of the biotechnology company’s stock worth $1,796,000 after purchasing an additional 50,000 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of AnaptysBio by 350.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,072 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 2,390 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of AnaptysBio by 4.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 206,785 shares of the biotechnology company’s stock valued at $3,714,000 after purchasing an additional 8,064 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of AnaptysBio during the third quarter worth $785,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in AnaptysBio by 134.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,896 shares of the biotechnology company’s stock worth $106,000 after buying an additional 3,381 shares during the last quarter.

AnaptysBio Company Profile

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.