AnaptysBio (NASDAQ:ANAB) Shares Gap Up Following Earnings Beat

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) shares gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $19.88, but opened at $22.21. AnaptysBio shares last traded at $21.23, with a volume of 41,187 shares traded.

The biotechnology company reported ($1.14) EPS for the quarter, topping analysts' consensus estimates of ($1.72) by $0.58. AnaptysBio had a negative return on equity of 255.68% and a negative net margin of 558.25%. The firm had revenue of $30.02 million during the quarter, compared to the consensus estimate of $7.92 million.

Wall Street Analyst Weigh In

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

Insider Activity at AnaptysBio

In related news, major shareholder Ecor1 Capital, Llc acquired 273,972 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $36.50 per share, with a total value of $9,999,978.00. Following the transaction, the insider now owns 7,794,996 shares of the company's stock, valued at $284,517,354. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other AnaptysBio news, major shareholder Ecor1 Capital, Llc bought 273,972 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $36.50 per share, with a total value of $9,999,978.00. Following the purchase, the insider now owns 7,794,996 shares in the company, valued at approximately $284,517,354. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul F. Lizzul sold 1,500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 15,398 shares of the company's stock, valued at $595,440.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,440 shares of company stock valued at $892,936 in the last three months. 33.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AnaptysBio

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of AnaptysBio in the first quarter worth about $38,000. Values First Advisors Inc. purchased a new position in AnaptysBio during the 3rd quarter worth approximately $49,000. nVerses Capital LLC raised its stake in AnaptysBio by 700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company's stock valued at $54,000 after purchasing an additional 1,400 shares during the period. Headlands Technologies LLC lifted its holdings in shares of AnaptysBio by 444.8% in the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company's stock valued at $89,000 after purchasing an additional 2,900 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of AnaptysBio by 81.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company's stock valued at $195,000 after buying an additional 2,600 shares in the last quarter.

AnaptysBio Stock Performance

The stock has a market capitalization of $609.31 million, a PE ratio of -3.54 and a beta of -0.24. The firm has a 50 day moving average of $33.59 and a 200-day moving average of $29.94.

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.