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

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

AnaptysBio Stock Performance

ANAB stock opened at $22.21 on Thursday. The stock has a 50-day simple moving average of $33.30 and a 200-day simple moving average of $29.89. The firm has a market cap of $609.31 million, a P/E ratio of -3.50 and a beta of -0.24. AnaptysBio has a 1 year low of $13.36 and a 1 year high of $41.31.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. HC Wainwright cut their price target on AnaptysBio from $55.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday. Wedbush reissued an “outperform” rating and issued a $42.00 price target on shares of AnaptysBio in a research note on Wednesday. Guggenheim upped their price objective 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. Truist Financial raised their target price 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. Finally, JPMorgan Chase & Co. upped their price target on shares of AnaptysBio from $69.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.45.

Insiders Place Their Bets

In other news, insider Paul F. Lizzul sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.67, for a total transaction of $58,005.00. Following the completion of the sale, the insider now directly owns 15,398 shares in the company, valued at $595,440.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Paul F. Lizzul sold 1,500 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $38.67, for a total value of $58,005.00. Following the sale, the insider now directly owns 15,398 shares of the company’s stock, valued at $595,440.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ecor1 Capital, Llc purchased 273,972 shares of AnaptysBio stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $36.50 per share, for a total transaction of $9,999,978.00. Following the transaction, the insider now directly owns 7,794,996 shares of the company’s stock, valued at approximately $284,517,354. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 22,440 shares of company stock worth $892,936 in the last 90 days. 33.70% of the stock is owned by company insiders.

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.