AnaptysBio (NASDAQ:ANAB) Shares Up 9.1% - Here's What Happened

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) rose 9.1% on Monday . The stock traded as high as $17.19 and last traded at $17.01. Approximately 261,406 shares changed hands during trading, a decline of 31% from the average daily volume of 379,460 shares. The stock had previously closed at $15.59.

Wall Street Analyst Weigh In

A number of analysts have commented on ANAB shares. BTIG Research cut AnaptysBio from a "buy" rating to a "neutral" rating in a research report on Monday, December 2nd. Guggenheim decreased their price objective on shares of AnaptysBio from $90.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their target price on shares of AnaptysBio from $56.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday. UBS Group raised their price target on AnaptysBio from $23.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, Wedbush restated an "outperform" rating and issued a $40.00 price objective (down from $42.00) on shares of AnaptysBio in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $45.09.

AnaptysBio Stock Up 6.8 %

The stock has a market capitalization of $506.64 million, a P/E ratio of -2.76 and a beta of -0.11. The stock's 50 day moving average price is $25.56 and its 200-day moving average price is $29.51.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.72) by $0.58. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The business had revenue of $30.02 million for the quarter, compared to analysts' expectations of $7.92 million. Analysts anticipate that AnaptysBio, Inc. will post -6.02 earnings per share for the current year.

Insider Activity at AnaptysBio

In related news, insider Paul F. Lizzul sold 1,500 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were 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 owns 15,398 shares of the company's stock, valued at $595,440.66. This represents a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 33.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AnaptysBio

Institutional investors and hedge funds have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. boosted its position in shares of AnaptysBio by 2.0% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company's stock worth $74,008,000 after purchasing an additional 43,598 shares in the last quarter. Ensign Peak Advisors Inc increased its position in AnaptysBio by 74.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 75,755 shares of the biotechnology company's stock valued at $1,898,000 after buying an additional 32,313 shares in the last quarter. Point72 Asset Management L.P. raised its stake in AnaptysBio by 202.8% in the third 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 last quarter. Victory Capital Management Inc. boosted its holdings in AnaptysBio by 677.9% in the third quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company's stock worth $7,948,000 after acquiring an additional 206,750 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in AnaptysBio by 55.1% in the third quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company's stock worth $15,927,000 after acquiring an additional 168,813 shares in the last quarter.

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.

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