Share Buyback Plan Approved by AnaptysBio (NASDAQ:ANAB) Board

AnaptysBio (NASDAQ:ANAB) declared that its Board of Directors has approved a stock buyback program on Monday, March 24th, RTT News reports. The company plans to buyback $75.00 million in shares. This buyback authorization allows the biotechnology company to reacquire up to 13.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

AnaptysBio Trading Down 1.4 %

ANAB opened at $18.44 on Wednesday. AnaptysBio has a 12 month low of $12.21 and a 12 month high of $41.31. The business’s 50-day moving average price is $16.95 and its 200-day moving average price is $22.22. The company has a market cap of $565.50 million, a P/E ratio of -3.03 and a beta of 0.02.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.61) by $0.89. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The firm had revenue of $43.11 million for the quarter, compared to analysts’ expectations of $10.17 million. Equities research analysts forecast that AnaptysBio will post -6.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ANAB has been the topic of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of AnaptysBio in a research note on Wednesday, February 12th. Guggenheim restated a “buy” rating on shares of AnaptysBio in a research report on Monday, March 3rd. HC Wainwright reiterated a “neutral” rating and issued a $22.00 target price on shares of AnaptysBio in a research report on Tuesday, March 4th. Wells Fargo & Company lifted their price target on AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, BTIG Research lowered AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday, December 2nd. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.11.

Insider Buying and Selling

In other AnaptysBio news, Director Ecor1 Capital, Llc purchased 6,646 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was bought at an average price of $12.95 per share, with a total value of $86,065.70. Following the completion of the purchase, the director now directly owns 7,880,094 shares of the company’s stock, valued at $102,047,217.30. The trade was a 0.08 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 33.70% of the stock is owned by 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.