AnaptysBio (NASDAQ:ANAB) Shares Gap Up After Better-Than-Expected Earnings

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $16.40, but opened at $19.45. AnaptysBio shares last traded at $16.11, with a volume of 146,707 shares trading hands.

The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.61) by $0.89. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The business had revenue of $43.11 million during the quarter, compared to analyst estimates of $10.17 million.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of AnaptysBio in a research note on Wednesday, February 12th. JPMorgan Chase & Co. cut their price objective on shares of AnaptysBio from $66.00 to $36.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. HC Wainwright reiterated a “neutral” rating and issued a $19.00 target price on shares of AnaptysBio in a report on Tuesday, February 4th. Wolfe Research assumed coverage on shares of AnaptysBio in a report on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price target for the company. Finally, Guggenheim reduced their price target on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.11.

Insider Transactions at AnaptysBio

In other AnaptysBio news, Director Ecor1 Capital, Llc purchased 6,646 shares of AnaptysBio stock in a transaction dated Thursday, January 2nd. The shares were acquired 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 owns 7,880,094 shares of the company’s stock, valued at $102,047,217.30. This trade represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

A number of hedge funds have recently added to or reduced their stakes in ANAB. Fairmount Funds Management LLC purchased a new stake in shares of AnaptysBio during the fourth quarter worth $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 purchased a new stake in shares of AnaptysBio during the fourth quarter worth approximately $10,882,000. FMR LLC increased its stake in shares of 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 buying an additional 438,557 shares during the period. Finally, Soleus Capital Management L.P. acquired a new stake in AnaptysBio in the fourth quarter valued at approximately $5,481,000.

AnaptysBio Trading Up 2.6 %

The company has a market cap of $511.82 million and a price-to-earnings ratio of -2.77. The firm’s fifty day simple moving average is $16.01 and its 200 day simple moving average is $24.71.

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.