AnaptysBio (NASDAQ:ANAB) Shares Gap Down – Should You Sell?

AnaptysBio, Inc. (NASDAQ:ANAB) gapped down before the market opened 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 trading hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ANAB shares. Guggenheim increased their price target on shares of AnaptysBio from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. lowered their target price on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. UBS Group upped their price target on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $42.00 price objective on shares of AnaptysBio in a research report on Thursday, November 14th. Finally, Truist Financial increased their target price on shares of AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.64.

AnaptysBio Stock Performance

The company has a market capitalization of $722.10 million, a P/E ratio of -3.82 and a beta of -0.24. The business’s fifty day simple moving average is $28.13 and its 200-day simple moving average is $29.74.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.72) by $0.58. The business had revenue of $30.02 million for the quarter, compared to the consensus estimate of $7.92 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. As a group, analysts forecast that AnaptysBio, Inc. will post -6.02 EPS for the current year.

Insider Buying and Selling at AnaptysBio

In other news, insider Eric J. Loumeau sold 8,720 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $39.82, for a total transaction of $347,230.40. Following the completion of the sale, the insider now directly owns 7,020 shares of the company’s stock, valued at approximately $279,536.40. The trade was a 55.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul F. Lizzul sold 1,500 shares of the firm’s 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 in the company, valued at $595,440.66. This represents a 8.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,440 shares of company stock worth $892,936 over the last quarter. Insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

Several institutional investors have recently made changes to their positions in ANAB. FMR LLC increased its position in AnaptysBio by 15.3% during the 3rd quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock valued at $110,857,000 after purchasing an additional 438,557 shares during the period. Frazier Life Sciences Management L.P. boosted its stake in shares of AnaptysBio by 2.0% during 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 purchasing an additional 43,598 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in AnaptysBio by 55.1% in the third quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after buying an additional 168,813 shares in the last quarter. Geode Capital Management LLC boosted its position in AnaptysBio by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 465,401 shares of the biotechnology company’s stock valued at $15,594,000 after acquiring an additional 13,336 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of AnaptysBio in the 3rd quarter valued at $8,874,000.

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.