AnaptysBio (NASDAQ:ANAB) Stock Price Down 10.3% – Here’s Why

AnaptysBio, Inc. (NASDAQ:ANAB) was down 10.3% during trading on Friday . The stock traded as low as $60.18 and last traded at $58.2930. Approximately 200,639 shares traded hands during trading, a decline of 61% from the average daily volume of 512,750 shares. The stock had previously closed at $64.99.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ANAB shares. HC Wainwright increased their target price on AnaptysBio from $51.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AnaptysBio in a research note on Wednesday, January 21st. Wall Street Zen downgraded AnaptysBio from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Guggenheim reaffirmed a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th. Finally, UBS Group upped their price target on AnaptysBio from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AnaptysBio currently has a consensus rating of “Moderate Buy” and an average target price of $78.44.

AnaptysBio Stock Performance

The firm has a market cap of $1.65 billion, a PE ratio of -110.82 and a beta of 0.32. The company’s 50-day simple moving average is $55.06 and its two-hundred day simple moving average is $43.24.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.69. The company had revenue of $108.25 million during the quarter, compared to the consensus estimate of $87.09 million. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. On average, analysts expect that AnaptysBio, Inc. will post -6.08 EPS for the current year.

Insider Transactions at AnaptysBio

In related news, insider Paul F. Lizzul sold 4,219 shares of AnaptysBio stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $43.26, for a total transaction of $182,513.94. Following the sale, the insider owned 33,303 shares of the company’s stock, valued at approximately $1,440,687.78. This trade represents a 11.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel Faga sold 15,309 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $43.26, for a total value of $662,267.34. Following the completion of the sale, the chief executive officer owned 458,139 shares in the company, valued at $19,819,093.14. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 92,514 shares of company stock valued at $4,243,935. Insiders own 33.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in AnaptysBio by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company’s stock worth $74,855,000 after acquiring an additional 67,048 shares in the last quarter. State Street Corp grew its position in shares of AnaptysBio by 20.6% in the 4th quarter. State Street Corp now owns 1,053,474 shares of the biotechnology company’s stock worth $51,072,000 after buying an additional 180,042 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of AnaptysBio by 4,852.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock valued at $25,719,000 after purchasing an additional 822,975 shares during the last quarter. 683 Capital Management LLC grew its stake in shares of AnaptysBio by 18.5% during the fourth quarter. 683 Capital Management LLC now owns 648,093 shares of the biotechnology company’s stock worth $31,420,000 after acquiring an additional 101,093 shares during the last quarter. Finally, Affinity Asset Advisors LLC purchased a new position in shares of AnaptysBio in the fourth quarter worth $21,559,000.

About AnaptysBio

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.