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

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price gapped down prior to trading on Monday . The stock had previously closed at $24.96, but opened at $23.52. AnaptysBio shares last traded at $22.59, with a volume of 102,156 shares changing hands.

Analyst Upgrades and Downgrades

ANAB has been the topic of a number of research analyst reports. Guggenheim boosted their target price on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. cut their price objective on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Wedbush reissued an “outperform” rating and set a $42.00 target price on shares of AnaptysBio in a research note on Thursday, November 14th. BTIG Research downgraded AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday. Finally, Truist Financial increased their price target on shares of AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, AnaptysBio currently has an average rating of “Moderate Buy” and a consensus price target of $54.64.

AnaptysBio Trading Down 9.8 %

The firm has a market cap of $669.46 million, a PE ratio of -3.62 and a beta of -0.11. The firm has a 50 day moving average price of $27.65 and a 200-day moving average price of $29.72.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, beating the consensus estimate of ($1.72) by $0.58. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The firm had revenue of $30.02 million for the quarter, compared to analysts’ expectations of $7.92 million. Equities analysts forecast that AnaptysBio, Inc. will post -6.02 earnings per share for the current fiscal year.

Insider Transactions at AnaptysBio

In other AnaptysBio news, insider Eric J. Loumeau sold 8,720 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $39.82, for a total value of $347,230.40. Following the transaction, the insider now directly owns 7,020 shares in the company, valued at $279,536.40. This represents a 55.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dennis Mulroy sold 12,220 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $39.91, for a total transaction of $487,700.20. Following 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 72.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,440 shares of company stock valued at $892,936. Insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in AnaptysBio in the first quarter valued at $222,000. Assenagon Asset Management S.A. lifted its holdings in shares of AnaptysBio by 38.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 306,633 shares of the biotechnology company’s stock valued at $7,684,000 after purchasing an additional 84,795 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of AnaptysBio by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 74,510 shares of the biotechnology company’s stock valued at $1,867,000 after purchasing an additional 10,423 shares during the period. Rhumbline Advisers grew its stake in AnaptysBio by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 29,715 shares of the biotechnology company’s stock worth $745,000 after buying an additional 525 shares during the last quarter. Finally, TD Asset Management Inc increased its position in AnaptysBio by 67.3% during the second quarter. TD Asset Management Inc now owns 37,800 shares of the biotechnology company’s stock worth $947,000 after buying an additional 15,200 shares during the period.

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.