AnaptysBio (NASDAQ:ANAB) Trading Up 5% – Still a Buy?

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) were up 5% on Thursday . The stock traded as high as $20.18 and last traded at $20.02. Approximately 60,364 shares were traded during trading, a decline of 90% from the average daily volume of 588,058 shares. The stock had previously closed at $19.06.

Wall Street Analyst Weigh In

ANAB has been the subject of several recent analyst reports. 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 target for the company. Wedbush reiterated an “outperform” rating and issued a $40.00 price objective on shares of AnaptysBio in a report on Wednesday, February 12th. Guggenheim reissued a “buy” rating on shares of AnaptysBio in a report on Monday, March 3rd. Johnson Rice reaffirmed a “buy” rating on shares of AnaptysBio in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. increased their price objective on AnaptysBio from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AnaptysBio currently has an average rating of “Moderate Buy” and a consensus target price of $33.63.

AnaptysBio Stock Performance

The firm’s 50 day moving average price is $17.48 and its two-hundred day moving average price is $20.26. The firm has a market cap of $624.66 million, a PE ratio of -3.37 and a beta of -0.09.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($1.61) by $0.89. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The company had revenue of $43.11 million during the quarter, compared to analyst estimates of $10.17 million. On average, analysts forecast that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio announced that its Board of Directors has initiated a share repurchase program on Monday, March 24th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the biotechnology company to purchase up to 13.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AnaptysBio by 10.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 32,884 shares of the biotechnology company’s stock worth $1,102,000 after acquiring an additional 3,223 shares during the last quarter. Wellington Management Group LLP lifted its stake in AnaptysBio by 4.8% during the third quarter. Wellington Management Group LLP now owns 65,939 shares of the biotechnology company’s stock worth $2,209,000 after purchasing an additional 3,048 shares in the last quarter. Barclays PLC boosted its position in shares of AnaptysBio by 117.4% during the third quarter. Barclays PLC now owns 44,300 shares of the biotechnology company’s stock worth $1,486,000 after buying an additional 23,926 shares during the period. Geode Capital Management LLC grew its stake in shares of AnaptysBio by 3.0% in the third quarter. Geode Capital Management LLC now owns 465,401 shares of the biotechnology company’s stock valued at $15,594,000 after buying an additional 13,336 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of AnaptysBio by 191.4% in the third quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company’s stock valued at $1,130,000 after buying an additional 22,164 shares in the last quarter.

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.