AnaptysBio (NASDAQ:ANAB) Posts Quarterly Earnings Results, Beats Estimates By $0.89 EPS

AnaptysBio (NASDAQ:ANAB) posted its earnings results on Thursday. The biotechnology company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($1.61) by $0.89, Zacks reports. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%.

AnaptysBio Price Performance

Shares of NASDAQ:ANAB traded down $0.60 during trading on Thursday, reaching $16.40. 487,807 shares of the company’s stock traded hands, compared to its average volume of 1,092,114. AnaptysBio has a 12 month low of $12.21 and a 12 month high of $41.31. The company has a 50 day moving average of $15.94 and a 200-day moving average of $24.89. The stock has a market capitalization of $499.05 million and a P/E ratio of -2.70.

Insider Activity at AnaptysBio

In other AnaptysBio news, Director Ecor1 Capital, Llc acquired 6,646 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was acquired at an average price of $12.95 per share, with a total value of $86,065.70. Following the transaction, the director now directly owns 7,880,094 shares in the company, valued at approximately $102,047,217.30. This represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 33.70% of the company’s stock.

Analysts Set New Price Targets

ANAB has been the topic of several recent research reports. Wedbush restated an “outperform” rating and set a $40.00 target price on shares of AnaptysBio in a report on Wednesday, February 12th. Wolfe Research initiated coverage on shares of AnaptysBio in a report on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price objective on the stock. BTIG Research lowered shares of AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. cut their price objective on shares of AnaptysBio from $66.00 to $36.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, UBS Group boosted their price objective on shares of AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AnaptysBio currently has an average rating of “Moderate Buy” and a consensus price target of $34.11.

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.