AnaptysBio (NASDAQ:ANAB) Trading Down 4.1% – Time to Sell?

AnaptysBio, Inc. (NASDAQ:ANAB) dropped 4.1% during trading on Tuesday . The stock traded as low as $18.14 and last traded at $17.95. Approximately 79,974 shares were traded during trading, a decline of 92% from the average daily volume of 1,011,326 shares. The stock had previously closed at $18.71.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ANAB. Wells Fargo & Company raised their price objective on shares of AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Wolfe Research started coverage on shares of AnaptysBio in a research report on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price target on the stock. Truist Financial lowered their price objective on AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. BTIG Research downgraded AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday, December 2nd. Finally, Wedbush reissued an “outperform” rating and set a $40.00 price objective on shares of AnaptysBio in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AnaptysBio presently has an average rating of “Moderate Buy” and a consensus price target of $35.11.

AnaptysBio Trading Down 1.9 %

The business has a fifty day moving average price of $17.00 and a 200 day moving average price of $22.19. The firm has a market cap of $547.07 million, a PE ratio of -2.98 and a beta of 0.02.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.89. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The company had revenue of $43.11 million for the quarter, compared to analysts’ expectations of $10.17 million. On average, research analysts expect that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio declared that its Board of Directors has initiated a stock repurchase program on Monday, March 24th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the biotechnology company to reacquire up to 13.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Ecor1 Capital, Llc acquired 6,646 shares of AnaptysBio stock in a transaction that occurred on Thursday, January 2nd. The stock was purchased at an average price of $12.95 per share, for a total transaction of $86,065.70. Following the completion of the transaction, the director now directly owns 7,880,094 shares in the company, valued at approximately $102,047,217.30. This trade represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently modified their holdings of ANAB. Wellington Management Group LLP increased its position in AnaptysBio by 0.8% during the fourth quarter. Wellington Management Group LLP now owns 66,467 shares of the biotechnology company’s stock worth $880,000 after buying an additional 528 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of AnaptysBio by 11.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,452 shares of the biotechnology company’s stock valued at $85,000 after acquiring an additional 644 shares during the last quarter. Virtus ETF Advisers LLC boosted its position in shares of AnaptysBio by 24.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 936 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of AnaptysBio by 3.8% during the 4th quarter. Rhumbline Advisers now owns 30,077 shares of the biotechnology company’s stock worth $398,000 after buying an additional 1,111 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of AnaptysBio by 10.3% in the 4th quarter. California State Teachers Retirement System now owns 14,590 shares of the biotechnology company’s stock worth $193,000 after purchasing an additional 1,359 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.