AnaptysBio (NASDAQ:ANAB) Shares Gap Down – Should You Sell?

AnaptysBio, Inc. (NASDAQ:ANAB) gapped down prior to trading on Wednesday . The stock had previously closed at $62.51, but opened at $60.65. AnaptysBio shares last traded at $56.1260, with a volume of 135,970 shares trading hands.

Analysts Set New Price Targets

ANAB has been the subject of several analyst reports. Leerink Partners set a $90.00 price target on shares of AnaptysBio in a research note on Friday, May 15th. UBS Group increased their price objective on AnaptysBio from $60.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Truist Financial raised AnaptysBio to a “hold” rating in a research report on Wednesday, March 25th. HC Wainwright started coverage on AnaptysBio in a report on Wednesday, June 10th. They set a “buy” rating and a $95.00 target price on the stock. Finally, Wall Street Zen lowered AnaptysBio from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 16th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AnaptysBio presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.82.

AnaptysBio Stock Performance

The stock’s 50 day moving average price is $59.72 and its 200 day moving average price is $57.30. The company has a market capitalization of $1.60 billion, a P/E ratio of -50.14 and a beta of 0.68.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($1.20). The company had revenue of $25.56 million for the quarter, compared to analyst estimates of $18.86 million. On average, analysts expect that AnaptysBio, Inc. will post -1.35 earnings per share for the current fiscal year.

AnaptysBio announced that its Board of Directors has authorized a share buyback program on Friday, March 27th that allows the company to buyback $100,000.00 billion in shares. This buyback authorization allows the biotechnology company to purchase up to 5,352,316.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of AnaptysBio by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company’s stock valued at $74,855,000 after acquiring an additional 67,048 shares in the last quarter. Sofinnova Investments Inc. grew its holdings in AnaptysBio by 13.1% in the fourth quarter. Sofinnova Investments Inc. now owns 287,690 shares of the biotechnology company’s stock worth $13,947,000 after purchasing an additional 33,422 shares during the period. 683 Capital Management LLC grew its holdings in AnaptysBio by 18.5% in the fourth quarter. 683 Capital Management LLC now owns 648,093 shares of the biotechnology company’s stock worth $31,420,000 after purchasing an additional 101,093 shares during the period. BNP Paribas Financial Markets increased its stake in AnaptysBio by 56.0% in the fourth quarter. BNP Paribas Financial Markets now owns 164,823 shares of the biotechnology company’s stock valued at $7,991,000 after purchasing an additional 59,160 shares in the last quarter. Finally, Tema Etfs LLC increased its stake in AnaptysBio by 105.6% in the fourth quarter. Tema Etfs LLC now owns 22,560 shares of the biotechnology company’s stock valued at $1,094,000 after purchasing an additional 11,585 shares in 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.