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

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price gapped down prior to trading on Monday . The stock had previously closed at $24.96, but opened at $23.52. AnaptysBio shares last traded at $22.59, with a volume of 102,156 shares traded.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Guggenheim boosted their price objective on shares of AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Wedbush restated an “outperform” rating and set a $42.00 target price on shares of AnaptysBio in a research report on Thursday, November 14th. BTIG Research cut AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday. JPMorgan Chase & Co. cut their price objective on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, HC Wainwright dropped their target price on shares of AnaptysBio from $55.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.64.

AnaptysBio Price Performance

The firm has a market cap of $722.10 million, a PE ratio of -3.82 and a beta of -0.24. The firm has a 50-day simple moving average of $28.13 and a 200 day simple moving average of $29.74.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.72) by $0.58. The company had revenue of $30.02 million during 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%. Sell-side analysts forecast that AnaptysBio, Inc. will post -6.02 earnings per share for the current fiscal year.

Insider Transactions at AnaptysBio

In related news, CFO Dennis Mulroy sold 12,220 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $39.91, for a total transaction of $487,700.20. Following the sale, the chief financial officer now directly owns 4,744 shares of the company’s stock, valued at approximately $189,333.04. This represents a 72.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul F. Lizzul sold 1,500 shares of AnaptysBio stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.67, for a total transaction of $58,005.00. Following the completion of the transaction, the insider now directly owns 15,398 shares of the company’s stock, valued at $595,440.66. This trade represents a 8.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,440 shares of company stock valued at $892,936 in the last ninety days. 33.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANAB. Values First Advisors Inc. purchased a new position in shares of AnaptysBio in the third quarter worth $49,000. nVerses Capital LLC raised its position in AnaptysBio by 700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock worth $54,000 after buying an additional 1,400 shares during the last quarter. Headlands Technologies LLC lifted its stake in AnaptysBio by 444.8% during the 2nd quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 2,900 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of AnaptysBio by 81.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock valued at $195,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Point72 DIFC Ltd grew its stake in shares of AnaptysBio by 680.5% in the third quarter. Point72 DIFC Ltd now owns 6,127 shares of the biotechnology company’s stock worth $205,000 after acquiring an additional 5,342 shares during the period.

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.