AnaptysBio (NASDAQ:ANAB) Shares Up 6.5% – Here’s What Happened

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price rose 6.5% during mid-day trading on Wednesday . The company traded as high as $23.44 and last traded at $23.44. Approximately 104,245 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 357,070 shares. The stock had previously closed at $22.00.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. HC Wainwright decreased their target price on AnaptysBio from $55.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Truist Financial boosted their target price on shares of AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. cut their target price on shares of AnaptysBio from $75.00 to $66.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Wedbush reaffirmed an “outperform” rating and issued a $42.00 price target on shares of AnaptysBio in a research note on Thursday, November 14th. Finally, BTIG Research cut shares of AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, AnaptysBio presently has an average rating of “Moderate Buy” and a consensus price target of $54.64.

AnaptysBio Price Performance

The company’s fifty day simple moving average is $27.65 and its two-hundred day simple moving average is $29.72. The stock has a market cap of $723.60 million, a price-to-earnings ratio of -3.86 and a beta of -0.11.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, topping the consensus estimate of ($1.72) by $0.58. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The firm had revenue of $30.02 million for the quarter, compared to the consensus estimate of $7.92 million. On average, analysts forecast that AnaptysBio, Inc. will post -6.02 earnings per share for the current 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 completion of the transaction, the chief financial officer now owns 4,744 shares in the company, valued at approximately $189,333.04. This represents a 72.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul F. Lizzul sold 1,500 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.67, for a total transaction of $58,005.00. Following the transaction, the insider now owns 15,398 shares of the company’s stock, valued at approximately $595,440.66. The trade was a 8.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,440 shares of company stock worth $892,936 in the last quarter. 33.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AnaptysBio

Several institutional investors have recently added to or reduced their stakes in ANAB. Frazier Life Sciences Management L.P. grew its position in AnaptysBio by 140.7% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,165,591 shares of the biotechnology company’s stock valued at $54,270,000 after buying an additional 1,265,891 shares during the period. FMR LLC boosted 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 purchasing an additional 438,557 shares during the period. Jennison Associates LLC bought a new position in AnaptysBio during the third quarter worth about $8,874,000. Victory Capital Management Inc. boosted its position in AnaptysBio by 677.9% during the third quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company’s stock worth $7,948,000 after purchasing an additional 206,750 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in AnaptysBio by 55.1% during the third quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after purchasing an additional 168,813 shares during the period.

About AnaptysBio

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.