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

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $40.00 target price on shares of AnaptysBio in a research report on Wednesday, February 12th. BTIG Research lowered AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. Wolfe Research initiated coverage on AnaptysBio in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 target price on the stock. JPMorgan Chase & Co. raised their price target on AnaptysBio from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Truist Financial reduced their price target on AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.11.

AnaptysBio Price Performance

The business has a fifty day moving average price of $16.88 and a 200 day moving average price of $22.34. The company has a market capitalization of $555.84 million, a price-to-earnings ratio of -2.99 and a beta of 0.02.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.89. The business had revenue of $43.11 million for the quarter, compared to the consensus estimate of $10.17 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. As a group, sell-side analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio declared that its Board of Directors has initiated a share repurchase plan on Monday, March 24th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the biotechnology company to reacquire up to 13.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at AnaptysBio

In related news, Director Ecor1 Capital, Llc bought 6,646 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was acquired at an average cost of $12.95 per share, with a total value of $86,065.70. Following the acquisition, the director now owns 7,880,094 shares in the company, valued at approximately $102,047,217.30. This represents a 0.08 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 33.70% of the stock is owned by insiders.

Institutional Trading of AnaptysBio

Large investors have recently bought and sold shares of the stock. Fairmount Funds Management LLC acquired a new stake in shares of AnaptysBio in the 4th quarter valued at approximately $24,050,000. Boxer Capital Management LLC acquired a new position in shares of AnaptysBio during the fourth quarter worth about $17,212,000. Sanofi bought a new position in shares of AnaptysBio during the fourth quarter worth about $10,882,000. FMR LLC raised its position in AnaptysBio by 15.3% in the 3rd quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock valued at $110,857,000 after buying an additional 438,557 shares during the last quarter. Finally, Soleus Capital Management L.P. bought a new stake in AnaptysBio in the 4th quarter valued at approximately $5,481,000.

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.