AnaptysBio (NASDAQ:ANAB) Shares Gap Down - Here's What Happened

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $30.80, but opened at $23.00. AnaptysBio shares last traded at $23.81, with a volume of 422,886 shares changing hands.

Wall Street Analyst Weigh In

ANAB has been the subject of a number of analyst reports. HC Wainwright reiterated a "buy" rating and set a $55.00 target price on shares of AnaptysBio in a research note on Wednesday, August 14th. JPMorgan Chase & Co. increased their price objective on AnaptysBio from $69.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. UBS Group boosted their target price on AnaptysBio from $23.00 to $33.00 and gave the stock a "neutral" rating in a research note on Wednesday. Wedbush reiterated an "outperform" rating and issued a $42.00 price target on shares of AnaptysBio in a research note on Thursday, September 26th. Finally, Guggenheim boosted their price objective on shares of AnaptysBio from $75.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.73.

AnaptysBio Stock Performance

The company's 50-day simple moving average is $35.23 and its 200-day simple moving average is $29.93. The company has a market capitalization of $605.94 million, a PE ratio of -4.04 and a beta of -0.29.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.82). The company had revenue of $10.97 million for the quarter, compared to analysts' expectations of $25.85 million. AnaptysBio had a negative net margin of 558.25% and a negative return on equity of 255.68%. Analysts expect that AnaptysBio, Inc. will post -6.84 EPS for the current year.

Insider Buying and Selling at AnaptysBio

In other news, CFO Dennis Mulroy sold 12,220 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $39.91, for a total value of $487,700.20. Following the completion of the sale, the chief financial officer now owns 4,744 shares in the company, valued at approximately $189,333.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Dennis Mulroy sold 12,220 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $39.91, for a total value of $487,700.20. Following the completion of the sale, the chief financial officer now directly owns 4,744 shares of the company's stock, valued at $189,333.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ecor1 Capital, Llc acquired 273,972 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $36.50 per share, for a total transaction of $9,999,978.00. Following the acquisition, the insider now directly owns 7,794,996 shares of the company's stock, valued at $284,517,354. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 22,440 shares of company stock valued at $892,936. 33.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On AnaptysBio

Large investors have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. grew its position in AnaptysBio by 140.7% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,165,591 shares of the biotechnology company's stock worth $54,270,000 after buying an additional 1,265,891 shares during the period. StemPoint Capital LP boosted its position in AnaptysBio by 499.0% during the first quarter. StemPoint Capital LP now owns 269,548 shares of the biotechnology company's stock worth $6,070,000 after purchasing an additional 224,548 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in AnaptysBio by 55.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company's stock valued at $15,927,000 after acquiring an additional 168,813 shares in the last quarter. Platinum Investment Management Ltd. acquired a new stake in shares of AnaptysBio in the first quarter valued at approximately $1,490,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of AnaptysBio during the 2nd quarter worth approximately $1,360,000.

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.