AnaptysBio (NASDAQ:ANAB) Shares Down 6.2% – Here’s Why

AnaptysBio, Inc. (NASDAQ:ANAB) was down 6.2% on Tuesday . The stock traded as low as $50.94 and last traded at $51.5080. 265,960 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 693,087 shares. The stock had previously closed at $54.92.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating on shares of AnaptysBio in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AnaptysBio in a research note on Friday, August 7th. TD Cowen reduced their price objective on shares of AnaptysBio from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, August 25th. HC Wainwright reiterated a “buy” rating and issued a $95.00 target price on shares of AnaptysBio in a report on Tuesday. Finally, Zacks Research downgraded AnaptysBio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Twelve analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.85.

AnaptysBio Stock Performance

The company has a market cap of $1.56 billion, a P/E ratio of -48.21 and a beta of 0.71. The company has a fifty day moving average price of $55.84 and a two-hundred day moving average price of $59.26.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings results on Monday, September 21st. The biotechnology company reported $5.11 EPS for the quarter, beating the consensus estimate of ($0.46) by $5.57. The company had revenue of $27.49 million for the quarter, compared to analyst estimates of $14.06 million. During the same period last year, the company posted ($1.30) earnings per share. Research analysts anticipate that AnaptysBio, Inc. will post -2.06 EPS for the current year.

Institutional Trading of AnaptysBio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd acquired a new stake in AnaptysBio in the second quarter valued at $39,000. Caitong International Asset Management Co. Ltd lifted its stake in AnaptysBio by 940.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,530 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 1,383 shares during the last quarter. Larson Financial Group LLC increased its position in AnaptysBio by 21.2% during the fourth quarter. Larson Financial Group LLC now owns 1,624 shares of the biotechnology company’s stock worth $79,000 after buying an additional 284 shares during the last quarter. Group One Trading LLC acquired a new position in AnaptysBio during the second quarter worth approximately $140,000. Finally, State of Wyoming bought a new stake in AnaptysBio in the second quarter valued at approximately $158,000.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on discovering and developing antibody-based medicines for cancer and immune-mediated diseases. The company’s programs are designed to modulate immune-cell signaling and address conditions in which the immune system is either insufficiently active, as in cancer, or overly active, as in autoimmune and inflammatory disorders.

AnaptysBio’s pipeline has included rosnilimab, an investigational antibody targeting CD200R1, and other immune-cell modulators aimed at autoimmune and inflammatory diseases.