AnaptysBio (NASDAQ:ANAB) Stock Price Down 4.5% – Should You Sell?

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price dropped 4.5% during mid-day trading on Wednesday . The company traded as low as $17.29 and last traded at $17.23. Approximately 62,356 shares traded hands during 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

Several equities research analysts have weighed in on the company. Truist Financial dropped their price objective on AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price target (down previously from $42.00) on shares of AnaptysBio in a research note on Wednesday, December 11th. BTIG Research downgraded shares of AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday, December 2nd. UBS Group upped their price objective on shares of AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, HC Wainwright lowered shares of AnaptysBio from a “buy” rating to a “neutral” rating and cut their target price for the company 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 given a buy rating to the stock. According to MarketBeat.com, AnaptysBio has an average rating of “Moderate Buy” and an average price target of $41.45.

AnaptysBio Price Performance

The stock has a market cap of $545.61 million, a PE ratio of -2.95 and a beta of -0.02. The company has a 50 day moving average price of $17.46 and a two-hundred day moving average price of $27.22.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, beating 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 business had revenue of $30.02 million for the quarter, compared to analysts’ expectations of $7.92 million. As a group, equities analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ecor1 Capital, Llc bought 6,646 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were acquired at an average cost of $12.95 per share, with a total value of $86,065.70. Following the completion of the transaction, the director now owns 7,880,094 shares of the company’s stock, valued at approximately $102,047,217.30. This trade represents a 0.08 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 33.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AnaptysBio

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers increased its holdings in AnaptysBio by 3.8% during the fourth quarter. Rhumbline Advisers now owns 30,077 shares of the biotechnology company’s stock valued at $398,000 after buying an additional 1,111 shares during the last quarter. Jennison Associates LLC increased its stake in shares of AnaptysBio by 1.6% in the 4th quarter. Jennison Associates LLC now owns 269,131 shares of the biotechnology company’s stock worth $3,563,000 after purchasing an additional 4,242 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in AnaptysBio by 11.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,452 shares of the biotechnology company’s stock worth $85,000 after purchasing an additional 644 shares during the period. SG Americas Securities LLC raised its holdings in AnaptysBio by 35.0% in the 4th quarter. SG Americas Securities LLC now owns 16,307 shares of the biotechnology company’s stock worth $216,000 after purchasing an additional 4,231 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in AnaptysBio by 191.4% during the third quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company’s stock valued at $1,130,000 after purchasing an additional 22,164 shares in the last quarter.

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.