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

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $17.08, but opened at $18.01. AnaptysBio shares last traded at $19.49, with a volume of 220,227 shares changing hands.

Analyst Ratings Changes

A number of research firms have issued reports on ANAB. BTIG Research lowered shares of AnaptysBio from a “buy” rating to a “neutral” rating in a research note on Monday, December 2nd. Guggenheim reissued a “buy” rating on shares of AnaptysBio in a report on Monday, March 3rd. Wolfe Research assumed coverage on AnaptysBio in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 target price on the stock. Truist Financial reduced their price target on AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised their price target on AnaptysBio from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.11.

AnaptysBio Stock Performance

The company has a market cap of $565.50 million, a P/E ratio of -3.03 and a beta of 0.02. The stock has a 50 day moving average price of $16.95 and a 200 day moving average price of $22.22.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.89. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The firm had revenue of $43.11 million for the quarter, compared to analyst estimates of $10.17 million. As a group, equities research analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio announced that its board has approved a stock repurchase plan on Monday, March 24th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the biotechnology company to purchase up to 13.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at AnaptysBio

In related news, Director Ecor1 Capital, Llc bought 6,646 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were bought at an average cost of $12.95 per share, with a total value of $86,065.70. Following the completion of the transaction, the director now directly owns 7,880,094 shares of the company’s stock, valued at approximately $102,047,217.30. This trade represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

A number of hedge funds and other institutional investors have recently modified their holdings of ANAB. Wellington Management Group LLP lifted its stake in AnaptysBio by 0.8% during the fourth quarter. Wellington Management Group LLP now owns 66,467 shares of the biotechnology company’s stock valued at $880,000 after buying an additional 528 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of AnaptysBio by 11.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,452 shares of the biotechnology company’s stock valued at $85,000 after acquiring an additional 644 shares during the period. Virtus ETF Advisers LLC lifted its position in shares of AnaptysBio by 24.7% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 936 shares in the last quarter. Rhumbline Advisers boosted its stake in AnaptysBio by 3.8% in the 4th quarter. Rhumbline Advisers now owns 30,077 shares of the biotechnology company’s stock worth $398,000 after purchasing an additional 1,111 shares during the period. Finally, California State Teachers Retirement System grew its position in AnaptysBio by 10.3% during the 4th quarter. California State Teachers Retirement System now owns 14,590 shares of the biotechnology company’s stock worth $193,000 after purchasing an additional 1,359 shares in the last quarter.

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.