AnaptysBio (NASDAQ:ANAB) Shares Down 4.1% – What’s Next?

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

Analyst Ratings Changes

ANAB has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price objective on AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Truist Financial reduced their price target on AnaptysBio from $30.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. BTIG Research downgraded shares of AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday, December 2nd. Guggenheim reaffirmed a “buy” rating on shares of AnaptysBio in a research note on Monday, March 3rd. Finally, HC Wainwright reissued a “neutral” rating and issued a $22.00 price target on shares of AnaptysBio in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.11.

AnaptysBio Stock Down 1.9 %

The business’s 50 day simple moving average is $17.00 and its 200 day simple moving average is $22.19. The company has a market capitalization of $547.07 million, a PE ratio of -2.98 and a beta of 0.02.

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

AnaptysBio declared that its board has approved a stock repurchase plan on Monday, March 24th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the biotechnology company to purchase up to 13.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at AnaptysBio

In other news, Director Ecor1 Capital, Llc purchased 6,646 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was bought at an average cost of $12.95 per share, with a total value of $86,065.70. Following the purchase, the director now directly owns 7,880,094 shares of the company’s stock, valued at approximately $102,047,217.30. This trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 33.70% of the stock is currently owned by company insiders.

Institutional Trading of AnaptysBio

Large investors have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. boosted its holdings in AnaptysBio by 2.0% in the third 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. Point72 Asset Management L.P. increased its holdings in shares of 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 acquiring an additional 36,300 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in AnaptysBio by 191.4% during the third quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company’s stock valued at $1,130,000 after purchasing an additional 22,164 shares during the last quarter. Victory Capital Management Inc. lifted its stake 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 worth $4,428,000 after buying an additional 97,200 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of AnaptysBio during the 4th quarter worth $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.