AnaptysBio (NASDAQ:ANAB) Shares Gap Up to $23.94

AnaptysBio, Inc. (NASDAQ:ANAB) gapped up before the market opened on Wednesday . The stock had previously closed at $23.94, but opened at $24.59. AnaptysBio shares last traded at $24.78, with a volume of 18,569 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wedbush reissued an “outperform” rating and issued a $34.00 price target on shares of AnaptysBio in a research report on Friday, May 10th. Wells Fargo & Company began coverage on shares of AnaptysBio in a research report on Thursday, April 11th. They set an “overweight” rating and a $56.00 price objective on the stock. Leerink Partnrs reissued an “outperform” rating on shares of AnaptysBio in a report on Tuesday, April 16th. JPMorgan Chase & Co. lowered their price target on AnaptysBio from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, April 1st. Finally, SVB Leerink assumed coverage on shares of AnaptysBio in a report on Tuesday, April 16th. They set an “outperform” rating and a $47.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, AnaptysBio currently has an average rating of “Moderate Buy” and a consensus price target of $46.38.

AnaptysBio Stock Up 5.0 %

The firm has a 50 day moving average price of $24.05 and a 200 day moving average price of $23.27. The stock has a market cap of $686.55 million, a P/E ratio of -4.13 and a beta of -0.25.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($1.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.10). AnaptysBio had a negative net margin of 711.17% and a negative return on equity of 161.40%. The firm had revenue of $7.18 million for the quarter, compared to analysts’ expectations of $4.55 million. Equities analysts predict that AnaptysBio, Inc. will post -6.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Dennis M. Fenton sold 1,950 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $23.17, for a total transaction of $45,181.50. Following the completion of the transaction, the director now directly owns 1,950 shares of the company’s stock, valued at $45,181.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Dennis Mulroy sold 1,500 shares of AnaptysBio stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $23.72, for a total transaction of $35,580.00. Following the completion of the transaction, the chief financial officer now directly owns 964 shares of the company’s stock, valued at approximately $22,866.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dennis M. Fenton sold 1,950 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $23.17, for a total transaction of $45,181.50. Following the transaction, the director now owns 1,950 shares in the company, valued at $45,181.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,400 shares of company stock worth $125,924. 33.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ANAB. Allspring Global Investments Holdings LLC purchased a new stake in AnaptysBio in the 1st quarter valued at about $38,000. China Universal Asset Management Co. Ltd. grew its holdings in AnaptysBio by 350.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,072 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 2,390 shares in the last quarter. Quest Partners LLC bought a new stake in shares of AnaptysBio in the 4th quarter valued at about $119,000. SG Americas Securities LLC bought a new position in shares of AnaptysBio during the fourth quarter valued at approximately $126,000. Finally, Virtu Financial LLC purchased a new stake in AnaptysBio during the first quarter worth $222,000.

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.