AnaptysBio (NASDAQ:ANAB) Issues Earnings Results, Beats Estimates By $0.58 EPS

AnaptysBio (NASDAQ:ANAB) posted its quarterly earnings results on Tuesday. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.72) by $0.58, Zacks reports. The firm had revenue of $30.02 million during the quarter, compared to the consensus estimate of $7.92 million. AnaptysBio had a negative return on equity of 255.68% and a negative net margin of 558.25%.

AnaptysBio Price Performance

Shares of ANAB traded up $1.84 during trading hours on Wednesday, reaching $21.72. 185,546 shares of the company’s stock traded hands, compared to its average volume of 344,814. The business’s fifty day simple moving average is $33.59 and its two-hundred day simple moving average is $29.94. The firm has a market capitalization of $595.87 million, a price-to-earnings ratio of -3.56 and a beta of -0.24. AnaptysBio has a twelve month low of $13.36 and a twelve month high of $41.31.

Insider Activity

In other AnaptysBio news, major shareholder Ecor1 Capital, Llc bought 273,972 shares of AnaptysBio stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $36.50 per share, for a total transaction of $9,999,978.00. Following the completion of the acquisition, the insider now owns 7,794,996 shares of the company’s stock, valued at approximately $284,517,354. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other AnaptysBio news, major shareholder Ecor1 Capital, Llc purchased 273,972 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $36.50 per share, with a total value of $9,999,978.00. Following the completion of the transaction, the insider now owns 7,794,996 shares of the company’s stock, valued at approximately $284,517,354. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dennis Mulroy sold 12,220 shares of AnaptysBio stock in a transaction on Monday, September 16th. The shares were sold at an average price of $39.91, for a total transaction of $487,700.20. Following the sale, the chief financial officer now directly owns 4,744 shares of the company’s stock, valued at $189,333.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,440 shares of company stock worth $892,936 over the last three months. Corporate insiders own 33.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial raised their target price on shares of AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Wedbush restated an “outperform” rating and issued a $42.00 price target on shares of AnaptysBio in a report on Wednesday. UBS Group upped their target price on shares of AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Guggenheim raised their price objective on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. increased their target price on AnaptysBio from $69.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.73.

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.