AnaptysBio (NASDAQ:ANAB) Trading Down 6.9% - Here's Why

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) was down 6.9% during mid-day trading on Friday . The company traded as low as $29.48 and last traded at $30.00. Approximately 149,145 shares changed hands during trading, a decline of 54% from the average daily volume of 322,812 shares. The stock had previously closed at $32.22.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Guggenheim boosted their price objective on shares of AnaptysBio from $75.00 to $90.00 and gave the company a "buy" rating in a report on Monday. Truist Financial increased their price target on AnaptysBio from $20.00 to $30.00 and gave the company a "hold" rating in a report on Thursday, August 15th. HC Wainwright reaffirmed a "buy" rating and issued a $55.00 price objective on shares of AnaptysBio in a report on Wednesday, August 14th. Wedbush reissued an "outperform" rating and issued a $42.00 target price on shares of AnaptysBio in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. boosted their price target on AnaptysBio from $69.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, AnaptysBio presently has an average rating of "Moderate Buy" and a consensus price target of $54.64.

AnaptysBio Stock Down 0.6 %

The firm has a market cap of $875.03 million, a PE ratio of -5.37 and a beta of -0.29. The firm's fifty day simple moving average is $35.49 and its two-hundred day simple moving average is $29.65.

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

Insider Activity at AnaptysBio

In related news, major shareholder Ecor1 Capital, Llc acquired 273,972 shares of AnaptysBio stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average price of $36.50 per share, for a total transaction of $9,999,978.00. Following the completion of the transaction, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Ecor1 Capital, Llc acquired 273,972 shares of the company's stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $36.50 per share, with a total value of $9,999,978.00. Following the acquisition, the insider now directly owns 7,794,996 shares of the company's stock, valued at approximately $284,517,354. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Dennis Mulroy sold 12,220 shares of AnaptysBio stock in a transaction dated 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 in the company, valued at $189,333.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,440 shares of company stock valued at $892,936. 33.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On AnaptysBio

Hedge funds have recently bought and sold shares of the business. Values First Advisors Inc. purchased a new position in shares of AnaptysBio in the 3rd quarter worth $49,000. nVerses Capital LLC raised its position in AnaptysBio by 700.0% during the third 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. Allspring Global Investments Holdings LLC bought a new stake in shares of AnaptysBio in the 1st quarter valued at approximately $38,000. Headlands Technologies LLC lifted its stake in shares of AnaptysBio by 444.8% in the 2nd 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 during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of AnaptysBio by 81.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company's stock worth $195,000 after purchasing an additional 2,600 shares during the period.

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.