AnaptysBio (NASDAQ:ANAB) Shares Gap Down – Here’s What Happened

AnaptysBio, Inc. (NASDAQ:ANAB) gapped down before the market opened on Wednesday . The stock had previously closed at $30.80, but opened at $23.00. AnaptysBio shares last traded at $23.81, with a volume of 422,886 shares changing hands.

Analysts Set New Price Targets

ANAB has been the topic of several recent research reports. Guggenheim increased their price target on shares of AnaptysBio from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Truist Financial lifted their target price on AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. UBS Group upped their price target on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of AnaptysBio in a research note on Thursday. Finally, Wedbush reissued an “outperform” rating and issued a $42.00 price objective on shares of AnaptysBio in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.73.

AnaptysBio Price Performance

The company has a 50-day moving average of $34.60 and a 200 day moving average of $29.82. The company has a market cap of $590.91 million, a PE ratio of -3.52 and a beta of -0.29.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Monday, August 5th. The biotechnology company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.82). The company had revenue of $10.97 million for the quarter, compared to the consensus estimate of $25.85 million. AnaptysBio had a negative net margin of 558.25% and a negative return on equity of 255.68%. Equities research analysts expect that AnaptysBio, Inc. will post -6.84 EPS for the current year.

Insider Transactions at AnaptysBio

In related news, insider Paul F. Lizzul sold 1,500 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.67, for a total transaction of $58,005.00. Following the transaction, the insider now directly owns 15,398 shares in the company, valued at approximately $595,440.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Paul F. Lizzul sold 1,500 shares of AnaptysBio stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $38.67, for a total transaction of $58,005.00. Following the completion of the sale, the insider now directly owns 15,398 shares in the company, valued at approximately $595,440.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dennis Mulroy sold 12,220 shares of AnaptysBio stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $39.91, for a total transaction of $487,700.20. Following the sale, the chief financial officer now owns 4,744 shares of the company’s stock, valued at $189,333.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,440 shares of company stock worth $892,936. 33.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AnaptysBio

Large investors have recently modified their holdings of the business. Rhumbline Advisers boosted its position in AnaptysBio by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 29,715 shares of the biotechnology company’s stock valued at $745,000 after acquiring an additional 525 shares in the last quarter. Algert Global LLC grew its position in shares of AnaptysBio by 11.8% in the 2nd quarter. Algert Global LLC now owns 10,178 shares of the biotechnology company’s stock worth $255,000 after buying an additional 1,078 shares during the last quarter. nVerses Capital LLC grew its position in shares of AnaptysBio by 700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock worth $54,000 after buying an additional 1,400 shares during the last quarter. Values First Advisors Inc. purchased a new stake in AnaptysBio during the third quarter valued at approximately $49,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in AnaptysBio in the first quarter valued at approximately $38,000.

AnaptysBio Company Profile

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.