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

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $24.38, but opened at $25.16. AnaptysBio shares last traded at $23.98, with a volume of 17,913 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ANAB shares. BTIG Research downgraded shares of AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday. Guggenheim raised their price target on AnaptysBio from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wedbush reiterated an “outperform” rating and set a $42.00 price objective on shares of AnaptysBio in a research report on Thursday, November 14th. HC Wainwright decreased their price target on shares of AnaptysBio from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Truist Financial raised their target price on shares of AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, AnaptysBio has an average rating of “Moderate Buy” and an average target price of $54.64.

AnaptysBio Price Performance

The business’s fifty day simple moving average is $27.91 and its 200 day simple moving average is $29.74.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.72) by $0.58. The firm had revenue of $30.02 million for the quarter, compared to analysts’ expectations of $7.92 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. Equities analysts expect that AnaptysBio, Inc. will post -6.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul F. Lizzul sold 1,500 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $38.67, for a total value of $58,005.00. Following the completion of the transaction, the insider now directly owns 15,398 shares in the company, valued at $595,440.66. This trade represents a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dennis Mulroy sold 12,220 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $39.91, for a total value of $487,700.20. Following the completion of the sale, the chief financial officer now owns 4,744 shares of the company’s stock, valued at $189,333.04. This trade represents a 72.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,440 shares of company stock worth $892,936. Insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds have recently made changes to their positions in ANAB. Rhumbline Advisers boosted its holdings in AnaptysBio by 1.8% during the second quarter. Rhumbline Advisers now owns 29,715 shares of the biotechnology company’s stock worth $745,000 after buying an additional 525 shares in the last quarter. Algert Global LLC boosted its stake in shares of AnaptysBio by 11.8% during the 2nd quarter. Algert Global LLC now owns 10,178 shares of the biotechnology company’s stock worth $255,000 after acquiring an additional 1,078 shares in the last quarter. nVerses Capital LLC grew its holdings 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 acquiring an additional 1,400 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of AnaptysBio during the third quarter worth $49,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of AnaptysBio by 81.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 2,600 shares during the period.

About AnaptysBio

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.