AnaptysBio (NASDAQ:ANAB) Stock Price Down 4% – Should You Sell?

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price traded down 4% on Tuesday . The company traded as low as $48.99 and last traded at $48.87. 95,614 shares changed hands during trading, a decline of 86% from the average session volume of 685,404 shares. The stock had previously closed at $50.91.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ANAB shares. Stifel Nicolaus dropped their price target on AnaptysBio from $80.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Guggenheim reissued a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th. Wall Street Zen raised shares of AnaptysBio from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. HC Wainwright dropped their price objective on shares of AnaptysBio from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Finally, Truist Financial boosted their target price on shares of AnaptysBio from $20.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, AnaptysBio currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.40.

AnaptysBio Stock Down 5.8%

The business has a 50 day moving average price of $40.77 and a 200 day moving average price of $30.16. The stock has a market cap of $1.33 billion, a P/E ratio of -17.04 and a beta of 0.28.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $1.58. The company had revenue of $76.32 million during the quarter, compared to analysts’ expectations of $15.83 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 49.94%. On average, research analysts expect that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio announced that its Board of Directors has authorized a share repurchase plan on Friday, November 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the biotechnology company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at AnaptysBio

In other AnaptysBio news, insider Paul F. Lizzul sold 1,500 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $50.00, for a total transaction of $75,000.00. Following the transaction, the insider directly owned 26,967 shares in the company, valued at $1,348,350. This trade represents a 5.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric J. Loumeau sold 12,500 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $44.86, for a total value of $560,750.00. Following the completion of the sale, the insider owned 9,088 shares of the company’s stock, valued at $407,687.68. This represents a 57.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 63,766 shares of company stock valued at $3,011,004 over the last 90 days. 33.50% of the stock is currently owned by insiders.

Institutional Trading of AnaptysBio

A number of hedge funds have recently added to or reduced their stakes in ANAB. Larson Financial Group LLC lifted its position in shares of AnaptysBio by 54.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 473 shares during the period. Bessemer Group Inc. boosted its position in AnaptysBio by 950.0% during the 3rd quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 1,292 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of AnaptysBio by 175.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 1,377 shares during the period. Osaic Holdings Inc. raised its position in shares of AnaptysBio by 11,630.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 2,326 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of AnaptysBio by 131,540.0% during the 3rd quarter. Covestor Ltd now owns 6,582 shares of the biotechnology company’s stock worth $201,000 after purchasing an additional 6,577 shares during the last quarter.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.