AnaptysBio (NASDAQ:ANAB) Shares Gap Up to $22.17

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) gapped up before the market opened on Thursday . The stock had previously closed at $22.17, but opened at $24.81. AnaptysBio shares last traded at $24.63, with a volume of 80,691 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ANAB shares. Piper Sandler started coverage on AnaptysBio in a research note on Friday, February 16th. They set an “overweight” rating and a $80.00 price target for the company. JPMorgan Chase & Co. reduced their target price on AnaptysBio from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, April 1st. Wells Fargo & Company started coverage on AnaptysBio in a report on Thursday. They set an “overweight” rating and a $56.00 target price for the company. BTIG Research started coverage on AnaptysBio in a report on Monday, February 26th. They set a “buy” rating and a $55.00 target price for the company. Finally, Stifel Nicolaus started coverage on AnaptysBio in a report on Wednesday, February 21st. They set a “buy” rating and a $50.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.13.

AnaptysBio Stock Performance

The stock has a market cap of $607.72 million, a P/E ratio of -3.74 and a beta of -0.30. The stock has a 50-day moving average price of $23.53 and a 200-day moving average price of $20.46.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings results on Monday, March 11th. The biotechnology company reported ($1.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.74) by $0.15. The firm had revenue of $9.01 million during the quarter, compared to the consensus estimate of $3.28 million. AnaptysBio had a negative return on equity of 119.42% and a negative net margin of 953.66%. Sell-side analysts forecast that AnaptysBio, Inc. will post -6.25 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Daniel Faga sold 145,940 shares of AnaptysBio stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $22.78, for a total transaction of $3,324,513.20. Following the completion of the sale, the chief executive officer now owns 752,087 shares in the company, valued at approximately $17,132,541.86. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Daniel Faga sold 145,940 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $22.78, for a total value of $3,324,513.20. Following the completion of the sale, the chief executive officer now owns 752,087 shares in the company, valued at approximately $17,132,541.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric J. Loumeau sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the insider now owns 3,240 shares of the company’s stock, valued at approximately $81,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 157,005 shares of company stock worth $3,586,199. 35.50% of the stock is currently owned by insiders.

Institutional Trading of AnaptysBio

Hedge funds have recently bought and sold shares of the company. Hudson Bay Capital Management LP lifted its position in AnaptysBio by 100.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 100,000 shares of the biotechnology company’s stock worth $1,796,000 after buying an additional 50,000 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in AnaptysBio by 350.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,072 shares of the biotechnology company’s stock worth $66,000 after buying an additional 2,390 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in AnaptysBio by 4.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 206,785 shares of the biotechnology company’s stock worth $3,714,000 after purchasing an additional 8,064 shares during the period. Victory Capital Management Inc. purchased a new position in AnaptysBio in the 3rd quarter worth approximately $785,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in AnaptysBio by 134.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,896 shares of the biotechnology company’s stock worth $106,000 after purchasing an additional 3,381 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.