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

AnaptysBio (NASDAQ:ANAB) released its quarterly earnings data on Tuesday. The biotechnology company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.72) by $0.58, Zacks reports. The company 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 Stock Down 0.4 %

ANAB stock traded down $0.08 during midday trading on Friday, hitting $21.41. The company’s stock had a trading volume of 140,832 shares, compared to its average volume of 347,031. AnaptysBio has a 12 month low of $13.36 and a 12 month high of $41.31. The company has a 50 day moving average of $33.00 and a two-hundred day moving average of $29.83. The firm has a market capitalization of $587.28 million, a price-to-earnings ratio of -3.38 and a beta of -0.24.

Insider Activity

In related news, major shareholder Ecor1 Capital, Llc purchased 273,972 shares of the firm’s stock in a transaction on 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 purchase, the insider now directly owns 7,794,996 shares in the company, valued at $284,517,354. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Ecor1 Capital, Llc purchased 273,972 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was 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 directly owns 7,794,996 shares of the company’s stock, valued at $284,517,354. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $487,700.20. Following the sale, the chief financial officer now directly owns 4,744 shares in the company, valued at $189,333.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,440 shares of company stock worth $892,936 over the last quarter. Insiders own 33.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Guggenheim boosted their target price on shares of AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, October 21st. HC Wainwright cut their target price on shares of AnaptysBio from $55.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday. Truist Financial increased their price target on shares of AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Wedbush reissued an “outperform” rating and set a $42.00 price objective on shares of AnaptysBio in a research report on Wednesday. Finally, UBS Group raised their target price on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.45.

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.