AnaptysBio (NASDAQ:ANAB) Shares Down 4.1% – Should You Sell?

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price traded down 4.1% on Tuesday . The company traded as low as $18.14 and last traded at $17.95. 79,974 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,011,326 shares. The stock had previously closed at $18.71.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. HC Wainwright reiterated a “neutral” rating and issued a $22.00 price target on shares of AnaptysBio in a research note on Tuesday, March 4th. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of AnaptysBio in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their target price on shares of AnaptysBio from $40.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Guggenheim reiterated a “buy” rating on shares of AnaptysBio in a research report on Monday, March 3rd. Finally, BTIG Research downgraded shares of AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AnaptysBio has a consensus rating of “Moderate Buy” and a consensus price target of $35.11.

AnaptysBio Stock Down 3.1 %

The firm has a market cap of $555.84 million, a price-to-earnings ratio of -2.99 and a beta of 0.02. The firm has a 50 day moving average of $16.88 and a 200 day moving average of $22.34.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($1.61) by $0.89. The company had revenue of $43.11 million during the quarter, compared to the consensus estimate of $10.17 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 -6.08 EPS for the current year.

AnaptysBio declared that its board has initiated a share buyback program on Monday, March 24th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the biotechnology company to reacquire up to 13.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Ecor1 Capital, Llc purchased 65,184 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $12.92 per share, with a total value of $842,177.28. Following the purchase, the director now owns 7,860,180 shares in the company, valued at $101,553,525.60. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 33.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in AnaptysBio by 131.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 1,531 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of AnaptysBio during the fourth quarter valued at about $40,000. AlphaQuest LLC increased its position in shares of AnaptysBio by 1,891.5% during the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock worth $59,000 after acquiring an additional 4,237 shares in the last quarter. Virtus ETF Advisers LLC increased its position in shares of AnaptysBio by 24.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 936 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of AnaptysBio by 1,585.8% in the 4th quarter. Russell Investments Group Ltd. now owns 5,698 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 5,360 shares during 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.