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

AnaptysBio (NASDAQ:ANAB) announced its quarterly earnings results on Tuesday. The biotechnology company reported ($1.14) EPS for the quarter, beating the consensus estimate 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 net margin of 558.25% and a negative return on equity of 255.68%.

AnaptysBio Price Performance

AnaptysBio stock traded down $0.08 during trading hours on Friday, reaching $21.41. The stock had a trading volume of 140,832 shares, compared to its average volume of 347,031. The company has a fifty day simple moving average of $33.00 and a 200-day simple moving average of $29.83. AnaptysBio has a 52 week low of $13.36 and a 52 week high of $41.31. The stock has a market cap of $587.28 million, a PE ratio of -3.38 and a beta of -0.24.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in 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. UBS Group lifted 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. Wedbush restated an “outperform” rating and set a $42.00 price target on shares of AnaptysBio in a research report on Wednesday. HC Wainwright cut their price objective on AnaptysBio from $55.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Guggenheim increased their price objective on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.45.

Insider Activity

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

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.