AnaptysBio (NASDAQ:ANAB) Shares Gap Up on Better-Than-Expected Earnings

AnaptysBio, Inc. (NASDAQ:ANAB) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $16.40, but opened at $19.45. AnaptysBio shares last traded at $16.11, with a volume of 146,707 shares changing hands.

The biotechnology company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.89. The company had revenue of $43.11 million during the quarter, compared to analysts’ expectations of $10.17 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Guggenheim cut their price target on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. HC Wainwright reiterated a “neutral” rating and issued a $19.00 price objective on shares of AnaptysBio in a research note on Tuesday, February 4th. Wolfe Research started coverage on shares of AnaptysBio in a research report on Tuesday, February 4th. They set an “outperform” rating and a $25.00 target price for the company. JPMorgan Chase & Co. cut their price target on AnaptysBio from $66.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, BTIG Research lowered AnaptysBio from a “buy” rating to a “neutral” rating in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.11.

Insider Buying and Selling

In other AnaptysBio news, Director Ecor1 Capital, Llc acquired 6,646 shares of the company’s stock in a transaction on 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 acquisition, the director now owns 7,880,094 shares in the company, valued at approximately $102,047,217.30. This trade represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 33.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in AnaptysBio by 15.3% during the third quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock valued at $110,857,000 after purchasing an additional 438,557 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its stake in AnaptysBio by 2.0% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company’s stock valued at $74,008,000 after buying an additional 43,598 shares in the last quarter. Vanguard Group Inc. boosted its holdings in AnaptysBio by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company’s stock worth $24,411,000 after buying an additional 143,584 shares during the last quarter. Fairmount Funds Management LLC acquired a new stake in AnaptysBio in the 4th quarter worth about $24,050,000. Finally, Boxer Capital Management LLC purchased a new stake in AnaptysBio during the 4th quarter worth approximately $17,212,000.

AnaptysBio Price Performance

The firm has a market cap of $511.82 million and a price-to-earnings ratio of -2.77. The business has a fifty day simple moving average of $16.01 and a 200 day simple moving average of $24.71.

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.