AnaptysBio (NASDAQ:ANAB) Stock Price Down 4.5% – Here’s Why

AnaptysBio, Inc. (NASDAQ:ANAB) shares were down 4.5% during mid-day trading on Wednesday . The stock traded as low as $17.29 and last traded at $17.23. Approximately 62,356 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 707,790 shares. The stock had previously closed at $18.04.

Analyst Upgrades and Downgrades

ANAB has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of AnaptysBio from $56.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. JPMorgan Chase & Co. cut their price objective on AnaptysBio from $66.00 to $36.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. UBS Group lifted their target price on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Guggenheim decreased their price target on AnaptysBio from $90.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, HC Wainwright cut AnaptysBio from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $52.00 to $19.00 in a research note on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.45.

AnaptysBio Stock Down 3.6 %

The stock has a market capitalization of $529.22 million, a PE ratio of -2.86 and a beta of -0.02. The stock’s 50-day moving average is $17.60 and its 200 day moving average is $27.36.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.72) by $0.58. The business had revenue of $30.02 million for the quarter, compared to analysts’ expectations of $7.92 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. As a group, equities research analysts forecast that AnaptysBio, Inc. will post -6.08 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On AnaptysBio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in AnaptysBio by 15.3% during the third quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock worth $110,857,000 after acquiring an additional 438,557 shares during the period. Frazier Life Sciences Management L.P. boosted its position 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 valued at $74,008,000 after buying an additional 43,598 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of AnaptysBio by 55.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after acquiring an additional 168,813 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AnaptysBio by 3.0% during the third quarter. Geode Capital Management LLC now owns 465,401 shares of the biotechnology company’s stock worth $15,594,000 after purchasing an additional 13,336 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in AnaptysBio by 1.6% during the 4th quarter. Jennison Associates LLC now owns 269,131 shares of the biotechnology company’s stock worth $3,563,000 after acquiring an additional 4,242 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.