AnaptysBio (NASDAQ:ANAB) Shares Gap Down – Here’s What Happened

AnaptysBio, Inc. (NASDAQ:ANAB) gapped down before the market opened on Monday . The stock had previously closed at $67.51, but opened at $44.88. AnaptysBio shares last traded at $50.5030, with a volume of 97,826 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ANAB shares. Wedbush upped their price objective on shares of AnaptysBio from $60.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, March 12th. HC Wainwright reiterated a “buy” rating and set a $66.00 price objective on shares of AnaptysBio in a report on Monday, March 30th. Barclays upped their price objective on shares of AnaptysBio from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Wall Street Zen lowered shares of AnaptysBio from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Truist Financial upgraded shares of AnaptysBio to a “hold” rating in a report on Wednesday, March 25th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AnaptysBio currently has an average rating of “Moderate Buy” and a consensus target price of $80.10.

AnaptysBio Stock Down 24.4%

The firm’s 50-day moving average price is $59.94 and its 200 day moving average price is $48.07. The company has a market capitalization of $1.47 billion, a P/E ratio of -97.75 and a beta of 0.40.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, topping the consensus estimate of $0.89 by $0.69. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. The company had revenue of $108.25 million during the quarter, compared to the consensus estimate of $87.09 million. As a group, equities research analysts expect that AnaptysBio, Inc. will post -6.08 EPS for the current year.

AnaptysBio announced that its Board of Directors has initiated a share buyback program on Friday, March 27th that permits the company to repurchase $100,000.00 billion in shares. This repurchase authorization permits the biotechnology company to purchase up to 5,352,316.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other AnaptysBio news, CEO Daniel Faga sold 17,679 shares of the company’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $61.61, for a total value of $1,089,203.19. Following the completion of the sale, the chief executive officer directly owned 495,965 shares of the company’s stock, valued at approximately $30,556,403.65. This represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John P. Schmid sold 20,645 shares of the company’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $56.11, for a total transaction of $1,158,390.95. Following the completion of the sale, the director directly owned 31,622 shares of the company’s stock, valued at $1,774,310.42. The trade was a 39.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 48,324 shares of company stock valued at $2,787,594. Corporate insiders own 33.50% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its stake in shares of AnaptysBio by 2,236.6% during the 3rd quarter. Federated Hermes Inc. now owns 193,327 shares of the biotechnology company’s stock valued at $5,920,000 after buying an additional 185,053 shares in the last quarter. Granahan Investment Management LLC lifted its stake in shares of AnaptysBio by 12.2% during the 3rd quarter. Granahan Investment Management LLC now owns 147,773 shares of the biotechnology company’s stock valued at $4,525,000 after buying an additional 16,118 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of AnaptysBio by 333.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 145,191 shares of the biotechnology company’s stock valued at $4,446,000 after buying an additional 111,668 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of AnaptysBio during the 4th quarter valued at approximately $506,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of AnaptysBio during the 3rd quarter valued at approximately $560,000.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.