AnaptysBio (NASDAQ:ANAB) Trading Down 4.1% - Should You Sell?

Shares of AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) fell 4.1% during trading on Tuesday . The stock traded as low as $18.14 and last traded at $17.95. 79,974 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,011,326 shares. The stock had previously closed at $18.71.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Truist Financial cut their price target on shares of AnaptysBio from $30.00 to $20.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Wolfe Research assumed coverage on AnaptysBio in a report on Tuesday, February 4th. They issued an "outperform" rating and a $25.00 target price for the company. Wells Fargo & Company lifted their price target on AnaptysBio from $40.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. BTIG Research downgraded AnaptysBio from a "buy" rating to a "neutral" rating in a research note on Monday, December 2nd. Finally, Guggenheim reaffirmed a "buy" rating on shares of AnaptysBio in a research report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $35.11.

AnaptysBio Price Performance

The firm has a market capitalization of $581.14 million, a PE ratio of -3.12 and a beta of 0.02. The company's fifty day simple moving average is $17.14 and its 200 day simple moving average is $22.05.

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AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) EPS for the quarter, beating analysts' consensus estimates of ($1.61) by $0.89. The company had revenue of $43.11 million for the quarter, compared to analysts' expectations of $10.17 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. On average, analysts anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio announced that its board has initiated a stock repurchase program on Monday, March 24th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the biotechnology company to reacquire up to 13.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other AnaptysBio news, Director Ecor1 Capital, Llc purchased 6,646 shares of the stock in a transaction on Thursday, January 2nd. The shares were purchased at an average price of $12.95 per share, with a total value of $86,065.70. Following the acquisition, the director now directly owns 7,880,094 shares in the company, valued at approximately $102,047,217.30. The trade was a 0.08 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 33.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. boosted its stake in shares of AnaptysBio by 2.0% during the third quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company's stock valued at $74,008,000 after purchasing an additional 43,598 shares during the period. Point72 Asset Management L.P. boosted its position in AnaptysBio by 202.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 54,200 shares of the biotechnology company's stock valued at $1,816,000 after buying an additional 36,300 shares during the period. JPMorgan Chase & Co. grew its holdings in AnaptysBio by 191.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company's stock worth $1,130,000 after acquiring an additional 22,164 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of AnaptysBio by 41.0% in the fourth quarter. Victory Capital Management Inc. now owns 334,450 shares of the biotechnology company's stock valued at $4,428,000 after acquiring an additional 97,200 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of AnaptysBio during the fourth quarter valued at about $311,000.

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.