AnaptysBio (NASDAQ:ANAB) Trading Down 6.9% – Should You Sell?

AnaptysBio, Inc. (NASDAQ:ANAB) was down 6.9% during trading on Friday . The company traded as low as $29.48 and last traded at $30.00. Approximately 149,145 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 322,812 shares. The stock had previously closed at $32.22.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ANAB. Wedbush restated an “outperform” rating and set a $42.00 price target on shares of AnaptysBio in a research report on Thursday, September 26th. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of AnaptysBio in a report on Wednesday, August 14th. Truist Financial upped their price target on AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Guggenheim upped their target price on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. upped their price target on AnaptysBio from $69.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.64.

AnaptysBio Trading Up 2.4 %

The firm has a market cap of $901.25 million, a price-to-earnings ratio of -4.89 and a beta of -0.29. The firm’s fifty day moving average price is $35.49 and its 200-day moving average price is $29.65.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Monday, August 5th. The biotechnology company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.82). AnaptysBio had a negative net margin of 558.25% and a negative return on equity of 255.68%. The business had revenue of $10.97 million during the quarter, compared to analyst estimates of $25.85 million. On average, sell-side analysts expect that AnaptysBio, Inc. will post -6.84 earnings per share for the current year.

Insider Buying and Selling at AnaptysBio

In related news, CFO Dennis Mulroy sold 12,220 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $39.91, for a total transaction of $487,700.20. Following the completion of the transaction, the chief financial officer now directly owns 4,744 shares of the company’s stock, valued at $189,333.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Ecor1 Capital, Llc acquired 273,972 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $36.50 per share, for a total transaction of $9,999,978.00. Following the transaction, the insider now directly owns 7,794,996 shares of the company’s stock, valued at approximately $284,517,354. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were 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 directly owns 4,744 shares in the company, valued at approximately $189,333.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,440 shares of company stock valued at $892,936. 33.70% of the stock is owned by company insiders.

Institutional Trading of AnaptysBio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc boosted its holdings in shares of AnaptysBio by 74.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 75,755 shares of the biotechnology company’s stock valued at $1,898,000 after purchasing an additional 32,313 shares during the last quarter. Acadian Asset Management LLC acquired a new position in AnaptysBio in the first quarter valued at $420,000. Susquehanna Fundamental Investments LLC purchased a new stake in AnaptysBio during the first quarter valued at about $1,221,000. Alpha DNA Investment Management LLC acquired a new stake in AnaptysBio during the second quarter worth about $399,000. Finally, nVerses Capital LLC raised 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 purchasing an additional 1,400 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.