AnaptysBio (NASDAQ:ANAB) Trading Down 3.3%

AnaptysBio, Inc. (NASDAQ:ANAB) shares traded down 3.3% on Monday . The company traded as low as $25.45 and last traded at $25.69. 72,883 shares were traded during trading, a decline of 78% from the average session volume of 334,471 shares. The stock had previously closed at $26.58.

Analysts Set New Price Targets

ANAB has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of AnaptysBio from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, April 1st. BTIG Research started coverage on AnaptysBio in a research report on Monday, February 26th. They set a “buy” rating and a $55.00 target price for the company. Piper Sandler assumed coverage on AnaptysBio in a research report on Friday, February 16th. They issued an “overweight” rating and a $80.00 price target on the stock. Wells Fargo & Company began coverage on AnaptysBio in a research report on Thursday, April 11th. They set an “overweight” rating and a $56.00 price objective for the company. Finally, SVB Leerink began coverage on shares of AnaptysBio in a research report on Tuesday, April 16th. They set an “outperform” rating and a $47.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $46.22.

AnaptysBio Price Performance

The firm has a market capitalization of $703.49 million, a price-to-earnings ratio of -4.24 and a beta of -0.32. The business’s fifty day simple moving average is $22.90 and its 200 day simple moving average is $20.95.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings data on Monday, March 11th. The biotechnology company reported ($1.59) EPS for the quarter, beating analysts’ consensus estimates of ($1.74) by $0.15. AnaptysBio had a negative return on equity of 119.42% and a negative net margin of 953.66%. The firm had revenue of $9.01 million during the quarter, compared to analysts’ expectations of $3.28 million. Equities research analysts expect that AnaptysBio, Inc. will post -6.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Eric J. Loumeau sold 5,000 shares of AnaptysBio stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the insider now owns 3,240 shares of the company’s stock, valued at $81,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Eric J. Loumeau sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the insider now owns 3,240 shares in the company, valued at approximately $81,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel Faga sold 3,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $21.42, for a total value of $64,260.00. Following the sale, the chief executive officer now directly owns 749,087 shares of the company’s stock, valued at $16,045,443.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,940 shares of company stock worth $3,513,773. Insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

A number of hedge funds and other institutional investors have recently made changes to their positions in ANAB. First Light Asset Management LLC raised its position in AnaptysBio by 56.4% in the fourth quarter. First Light Asset Management LLC now owns 1,237,178 shares of the biotechnology company’s stock worth $26,500,000 after acquiring an additional 446,372 shares during the period. Eventide Asset Management LLC purchased a new position in AnaptysBio in the third quarter valued at approximately $7,669,000. Octagon Capital Advisors LP purchased a new stake in AnaptysBio in the fourth quarter worth $2,570,000. Great Point Partners LLC raised its stake in shares of AnaptysBio by 9.2% in the fourth quarter. Great Point Partners LLC now owns 976,981 shares of the biotechnology company’s stock valued at $20,927,000 after buying an additional 82,648 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of AnaptysBio by 22.7% during the 4th quarter. Franklin Resources Inc. now owns 405,115 shares of the biotechnology company’s stock valued at $8,678,000 after buying an additional 75,025 shares during 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.