AnaptysBio (NASDAQ:ANAB) Shares Gap Down – Time to Sell?

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price gapped down prior to trading on Friday. The stock had previously closed at $47.77, but opened at $45.27. AnaptysBio shares last traded at $46.1150, with a volume of 42,460 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently commented on ANAB. TD Cowen dropped their target price on shares of AnaptysBio from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, August 25th. Wall Street Zen cut AnaptysBio from a “buy” rating to a “hold” rating in a research report on Sunday, October 4th. Wolfe Research reissued an “outperform” rating and issued a $78.00 target price on shares of AnaptysBio in a report on Monday, August 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of AnaptysBio in a research report on Wednesday, November 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $95.00 target price on shares of AnaptysBio in a research report on Tuesday, September 22nd. Twelve investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, AnaptysBio presently has an average rating of “Moderate Buy” and a consensus price target of $75.67.

AnaptysBio Price Performance

The stock’s 50-day moving average is $50.01 and its 200 day moving average is $56.31. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 8.74 and a beta of 0.70.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data on Thursday, November 12th. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.84) by $1.95. AnaptysBio had a return on equity of 112.00% and a net margin of 82.37%. The firm had revenue of $30.27 million during the quarter, compared to analysts’ expectations of $25.56 million. Analysts anticipate that AnaptysBio, Inc. will post -1.30 EPS for the current year.

Insider Activity

In other AnaptysBio news, Director Hollings Renton sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $49.87, for a total value of $249,350.00. Following the sale, the director owned 10,995 shares of the company’s stock, valued at $548,320.65. This represents a 31.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 31.50% of the stock is owned by company insiders.

Institutional Trading of AnaptysBio

Institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC grew its position in shares of AnaptysBio by 55.2% in the 3rd quarter. Voya Investment Management LLC now owns 17,488 shares of the biotechnology company’s stock valued at $879,000 after purchasing an additional 6,223 shares during the period. Edgestream Partners L.P. bought a new stake in AnaptysBio during the 3rd quarter worth approximately $474,000. Russell Investments Group Ltd. increased its stake in AnaptysBio by 420.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 84,859 shares of the biotechnology company’s stock worth $4,265,000 after purchasing an additional 68,558 shares in the last quarter. Penn Capital Management Company LLC acquired a new stake in AnaptysBio during the 3rd quarter worth approximately $467,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in AnaptysBio during the 3rd quarter worth approximately $76,000.

About AnaptysBio

AnaptysBio is a biotechnology company focused on developing antibody-based treatments for inflammatory and autoimmune diseases. Its research programs target immune pathways that may be involved in conditions with significant unmet medical needs. The company’s pipeline has included rosnilimab, an investigational antibody designed to activate the PD-1 pathway, and ANB032, an investigational antibody targeting BTLA. AnaptysBio has also developed imsidolimab, an antibody targeting the IL-36 receptor; global rights to that program were licensed to Vanda Pharmaceuticals.