Insider Buying: AnaptysBio, Inc. (NASDAQ:ANAB) Major Shareholder Acquires $9,999,978.00 in Stock

AnaptysBio, Inc. (NASDAQ:ANAB) major shareholder Ecor1 Capital, Llc purchased 273,972 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $36.50 per share, with a total value of $9,999,978.00. Following the acquisition, the insider now owns 7,794,996 shares in the company, valued at $284,517,354. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AnaptysBio Price Performance

Shares of NASDAQ ANAB opened at $34.00 on Monday. AnaptysBio, Inc. has a 1-year low of $13.36 and a 1-year high of $41.31. The business’s fifty day moving average price is $29.55 and its two-hundred day moving average price is $25.64. The firm has a market capitalization of $928.85 million, a PE ratio of -5.54 and a beta of -0.25.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Monday, August 5th. The biotechnology company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.82). The company had revenue of $10.97 million during the quarter, compared to analyst estimates of $25.85 million. AnaptysBio had a negative return on equity of 161.40% and a negative net margin of 711.17%. Equities research analysts expect that AnaptysBio, Inc. will post -6.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ANAB. SG Americas Securities LLC acquired a new position in shares of AnaptysBio during the fourth quarter valued at $126,000. Trexquant Investment LP increased its holdings in shares of AnaptysBio by 107.6% during the fourth quarter. Trexquant Investment LP now owns 21,832 shares of the biotechnology company’s stock valued at $468,000 after purchasing an additional 11,318 shares during the period. Quest Partners LLC acquired a new position in shares of AnaptysBio during the fourth quarter valued at $119,000. Franklin Resources Inc. increased its holdings in shares of AnaptysBio by 22.7% during the fourth quarter. Franklin Resources Inc. now owns 405,115 shares of the biotechnology company’s stock valued at $8,678,000 after purchasing an additional 75,025 shares during the period. Finally, First Light Asset Management LLC boosted its stake in AnaptysBio by 56.4% during the fourth quarter. First Light Asset Management LLC now owns 1,237,178 shares of the biotechnology company’s stock valued at $26,500,000 after buying an additional 446,372 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ANAB. Wedbush restated an “outperform” rating and issued a $34.00 price target on shares of AnaptysBio in a report on Friday, May 10th. Truist Financial increased their target price on AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of AnaptysBio in a research note on Wednesday, August 14th. 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.30.

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.