AnaptysBio (NASDAQ:ANAB) Trading Down 4.5% – Time to Sell?

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price dropped 4.5% during trading on Wednesday . The stock traded as low as $17.29 and last traded at $17.23. Approximately 62,356 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 707,790 shares. The stock had previously closed at $18.04.

Analysts Set New Price Targets

ANAB has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on AnaptysBio from $66.00 to $36.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Guggenheim reduced their target price on AnaptysBio from $90.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Wells Fargo & Company dropped their price target on shares of AnaptysBio from $56.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. HC Wainwright cut shares of AnaptysBio from a “buy” rating to a “neutral” rating and cut their price target for the company from $52.00 to $19.00 in a report on Wednesday, December 11th. Finally, UBS Group raised their price objective on shares of AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.45.

AnaptysBio Trading Down 3.6 %

The firm has a market cap of $529.22 million, a P/E ratio of -2.86 and a beta of -0.02. The business’s 50-day moving average is $17.60 and its two-hundred day moving average is $27.36.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.72) by $0.58. The company had revenue of $30.02 million during the quarter, compared to analyst estimates of $7.92 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. On average, analysts anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ecor1 Capital, Llc purchased 65,184 shares of the stock in a transaction dated Monday, December 30th. The stock was acquired at an average price of $12.92 per share, for a total transaction of $842,177.28. Following the completion of the transaction, the director now owns 7,860,180 shares of the company’s stock, valued at approximately $101,553,525.60. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 33.70% of the stock is owned by corporate insiders.

Institutional Trading of AnaptysBio

Several hedge funds have recently bought and sold shares of the company. Jennison Associates LLC increased its stake in shares of AnaptysBio by 1.6% in the fourth quarter. Jennison Associates LLC now owns 269,131 shares of the biotechnology company’s stock valued at $3,563,000 after purchasing an additional 4,242 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in AnaptysBio by 11.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,452 shares of the biotechnology company’s stock worth $85,000 after buying an additional 644 shares in the last quarter. SG Americas Securities LLC increased its position in AnaptysBio by 35.0% in the 4th quarter. SG Americas Securities LLC now owns 16,307 shares of the biotechnology company’s stock valued at $216,000 after acquiring an additional 4,231 shares during the period. JPMorgan Chase & Co. raised its stake in AnaptysBio by 191.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company’s stock valued at $1,130,000 after acquiring an additional 22,164 shares in the last quarter. Finally, Barclays PLC boosted its position in AnaptysBio by 117.4% during 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 during the period.

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.