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

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) gapped up before the market opened on Wednesday . The stock had previously closed at $15.99, but opened at $16.46. AnaptysBio shares last traded at $16.52, with a volume of 185,473 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ANAB shares. HC Wainwright cut AnaptysBio from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $52.00 to $19.00 in a research report on Wednesday, December 11th. BTIG Research downgraded AnaptysBio from a “buy” rating to a “neutral” rating in a research note on Monday, December 2nd. Guggenheim decreased their target price on AnaptysBio from $90.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. JPMorgan Chase & Co. decreased their target price on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Wedbush reissued an “outperform” rating and set a $40.00 target price (down previously from $42.00) on shares of AnaptysBio in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $44.18.

AnaptysBio Stock Performance

The stock has a fifty day moving average of $24.91 and a 200-day moving average of $29.41. The company has a market cap of $466.78 million, a PE ratio of -2.52 and a beta of -0.11.

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

Insider Activity at AnaptysBio

In other news, insider Paul F. Lizzul sold 1,500 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was 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 of the company’s stock, valued at approximately $595,440.66. The trade was a 8.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 33.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Barclays PLC raised its position in shares of AnaptysBio by 117.4% in the 3rd quarter. Barclays PLC now owns 44,300 shares of the biotechnology company’s stock worth $1,486,000 after acquiring an additional 23,926 shares in the last quarter. Geode Capital Management LLC increased its position in AnaptysBio by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 465,401 shares of the biotechnology company’s stock valued at $15,594,000 after buying an additional 13,336 shares in the last quarter. Frazier Life Sciences Management L.P. increased its position in AnaptysBio by 2.0% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company’s stock valued at $74,008,000 after buying an additional 43,598 shares in the last quarter. XTX Topco Ltd increased its position in AnaptysBio by 49.1% during the 3rd quarter. XTX Topco Ltd now owns 20,286 shares of the biotechnology company’s stock valued at $680,000 after buying an additional 6,683 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in AnaptysBio by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 65,939 shares of the biotechnology company’s stock valued at $2,209,000 after buying an additional 3,048 shares in the last quarter.

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.