Eric Loumeau Sells 10,000 Shares of AnaptysBio (NASDAQ:ANAB) Stock

by · The Cerbat Gem

AnaptysBio, Inc. (NASDAQ:ANAB – Get Free Report) insider Eric Loumeau sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $51.00, for a total value of $510,000.00. Following the sale, the insider owned 8,947 shares in the company, valued at approximately $456,297. This represents a 52.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AnaptysBio Price Performance

ANAB stock traded down $0.29 during trading hours on Tuesday, reaching $50.04. The stock had a trading volume of 406,939 shares, compared to its average volume of 692,903. The stock has a market capitalization of $1.39 billion, a PE ratio of -17.74 and a beta of 0.28. The stock has a 50-day simple moving average of $39.15 and a 200 day simple moving average of $29.22. AnaptysBio, Inc. has a fifty-two week low of $12.21 and a fifty-two week high of $51.43.

AnaptysBio (NASDAQ:ANAB – Get Free Report) last issued its earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $1.58. AnaptysBio had a negative net margin of 49.94% and a negative return on equity of 1,101.24%. The company had revenue of $76.32 million for the quarter, compared to analysts’ expectations of $15.83 million. On average, sell-side analysts forecast that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

AnaptysBio announced that its board has initiated a stock repurchase plan on Friday, November 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the biotechnology company to reacquire up to 9.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Swiss National Bank boosted its stake in shares of AnaptysBio by 9.1% in the first quarter. Swiss National Bank now owns 32,400 shares of the biotechnology company’s stock valued at $602,000 after buying an additional 2,700 shares during the period. Nuveen LLC bought a new stake in shares of AnaptysBio during the 1st quarter valued at $1,041,000. Cresset Asset Management LLC acquired a new stake in shares of AnaptysBio during the 1st quarter worth $272,000. Algert Global LLC bought a new position in shares of AnaptysBio in the first quarter worth $202,000. Finally, Wellington Management Group LLP raised its stake in AnaptysBio by 14.4% in the first quarter. Wellington Management Group LLP now owns 76,021 shares of the biotechnology company’s stock valued at $1,413,000 after purchasing an additional 9,554 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Guggenheim restated a “buy” rating on shares of AnaptysBio in a research note on Thursday, December 18th. Wall Street Zen raised shares of AnaptysBio from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 16th. Wedbush restated an “outperform” rating and set a $50.00 target price on shares of AnaptysBio in a research note on Monday, November 24th. Barclays reduced their target price on shares of AnaptysBio from $70.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Finally, Truist Financial raised their price objective on shares of AnaptysBio from $20.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.40.

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About AnaptysBio

(Get Free Report)

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.

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