AnaptysBio (NASDAQ:ANAB) Shares Gap Up – Should You Buy?

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $16.66, but opened at $17.45. AnaptysBio shares last traded at $17.22, with a volume of 119,104 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. HC Wainwright reiterated a “neutral” rating and issued a $19.00 price objective on shares of AnaptysBio in a research note on Tuesday. Wedbush reissued an “outperform” rating and issued a $40.00 target price on shares of AnaptysBio in a report on Monday. Truist Financial reduced their target price on shares of AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Wolfe Research began coverage on AnaptysBio in a research report on Tuesday. They set an “outperform” rating and a $25.00 target price on the stock. Finally, UBS Group increased their price objective on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.08.

AnaptysBio Stock Performance

The firm has a market capitalization of $505.59 million and a P/E ratio of -2.73. The stock has a fifty day moving average price of $17.38 and a two-hundred day moving average price of $27.01.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.72) by $0.58. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The business had revenue of $30.02 million during the quarter, compared to the consensus estimate of $7.92 million. As a group, research analysts anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

Insider Activity at AnaptysBio

In other AnaptysBio news, Director Ecor1 Capital, Llc bought 6,646 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were acquired at an average cost of $12.95 per share, for a total transaction of $86,065.70. Following the acquisition, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Several large investors have recently modified their holdings of ANAB. Frazier Life Sciences Management L.P. boosted its position in shares of AnaptysBio by 2.0% in the 3rd 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 during the period. Point72 Asset Management L.P. lifted its holdings in shares of AnaptysBio by 202.8% in the third quarter. Point72 Asset Management L.P. now owns 54,200 shares of the biotechnology company’s stock valued at $1,816,000 after purchasing an additional 36,300 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of 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 buying an additional 22,164 shares in the last quarter. Victory Capital Management Inc. raised its position in AnaptysBio by 677.9% during the third quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company’s stock valued at $7,948,000 after buying an additional 206,750 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in AnaptysBio by 55.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after acquiring an additional 168,813 shares during the period.

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.