AnaptysBio (NASDAQ:ANAB) Shares Down 8.2%

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) fell 8.2% during mid-day trading on Friday . The stock traded as low as $22.70 and last traded at $22.70. 158,350 shares traded hands during trading, a decline of 49% from the average session volume of 311,741 shares. The stock had previously closed at $24.73.

Analysts Set New Price Targets

Several research firms have issued reports on ANAB. Piper Sandler began coverage on AnaptysBio in a research note on Friday, February 16th. They set an “overweight” rating and a $80.00 target price for the company. Wells Fargo & Company began coverage on AnaptysBio in a research note on Thursday. They set an “overweight” rating and a $56.00 target price for the company. BTIG Research began coverage on AnaptysBio in a research note on Monday, February 26th. They set a “buy” rating and a $55.00 target price for the company. Wedbush raised AnaptysBio from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $20.00 to $34.00 in a research note on Tuesday, March 12th. Finally, JPMorgan Chase & Co. cut their target price on AnaptysBio from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.13.

AnaptysBio Price Performance

The stock has a 50 day moving average price of $23.53 and a two-hundred day moving average price of $20.48. The firm has a market capitalization of $607.72 million, a price-to-earnings ratio of -3.74 and a beta of -0.30.

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

Insider Activity at AnaptysBio

In related news, insider Eric J. Loumeau sold 5,000 shares of AnaptysBio stock in a transaction 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 transaction, the insider now directly owns 3,240 shares in the company, valued at $81,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Daniel Faga sold 3,000 shares of AnaptysBio stock in a transaction on Monday, March 25th. The stock was sold at an average price of $21.42, for a total value of $64,260.00. Following the completion of the transaction, the chief executive officer now directly owns 749,087 shares in the company, valued at $16,045,443.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric J. Loumeau sold 5,000 shares of AnaptysBio stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the transaction, the insider now owns 3,240 shares of the company’s stock, valued at $81,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 157,005 shares of company stock worth $3,586,199. Company insiders own 35.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Woodline Partners LP lifted its holdings in AnaptysBio by 125.1% during the 2nd quarter. Woodline Partners LP now owns 1,034,549 shares of the biotechnology company’s stock worth $21,043,000 after buying an additional 574,987 shares during the last quarter. First Light Asset Management LLC lifted its holdings in AnaptysBio by 56.4% during the 4th quarter. First Light Asset Management LLC now owns 1,237,178 shares of the biotechnology company’s stock worth $26,500,000 after buying an additional 446,372 shares during the last quarter. Eventide Asset Management LLC purchased a new stake in AnaptysBio during the 3rd quarter worth about $7,669,000. Millennium Management LLC lifted its holdings in AnaptysBio by 1,050.7% during the 4th quarter. Millennium Management LLC now owns 322,802 shares of the biotechnology company’s stock worth $10,004,000 after buying an additional 294,750 shares during the last quarter. Finally, Palo Alto Investors LP lifted its holdings in AnaptysBio by 59.3% during the 4th quarter. Palo Alto Investors LP now owns 686,882 shares of the biotechnology company’s stock worth $14,713,000 after buying an additional 255,658 shares during the last quarter.

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.