AnaptysBio (NASDAQ:ANAB) Stock Price Down 7.3% – What’s Next?

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) traded down 7.3% during trading on Thursday . The stock traded as low as $46.90 and last traded at $46.58. 276,459 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 626,801 shares. The stock had previously closed at $50.26.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ANAB shares. HC Wainwright decreased their price target on shares of AnaptysBio from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Wall Street Zen raised AnaptysBio from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 16th. Truist Financial boosted their target price on AnaptysBio from $20.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, November 10th. UBS Group assumed coverage on AnaptysBio in a research report on Wednesday, January 7th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.40.

AnaptysBio Price Performance

The company has a 50 day moving average of $43.43 and a 200-day moving average of $32.06. The company has a market cap of $1.28 billion, a P/E ratio of -16.44 and a beta of 0.32.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $1.58. The firm had revenue of $76.32 million during the quarter, compared to the consensus estimate of $15.83 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 49.94%. Research analysts anticipate that AnaptysBio, Inc. will post -6.08 EPS for the current year.

AnaptysBio announced that its board has authorized a share repurchase plan on Friday, November 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the biotechnology company to buy up to 9.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other AnaptysBio news, insider Eric J. Loumeau sold 2,210 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $44.71, for a total value of $98,809.10. Following the completion of the transaction, the insider directly owned 12,835 shares in the company, valued at approximately $573,852.85. This represents a 14.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dennis Mulroy sold 2,515 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $44.71, for a total value of $112,445.65. Following the completion of the transaction, the chief financial officer owned 21,852 shares of the company’s stock, valued at approximately $977,002.92. This trade represents a 10.32% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 135,280 shares of company stock valued at $6,184,409. Company insiders own 33.50% of the company’s stock.

Institutional Trading of AnaptysBio

Several institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its position in AnaptysBio by 54.6% in the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 473 shares during the last quarter. Bessemer Group Inc. boosted its holdings in AnaptysBio by 950.0% in the 3rd quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock worth $44,000 after buying an additional 1,292 shares during the period. Tower Research Capital LLC TRC boosted its stake in AnaptysBio by 175.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 1,377 shares during the period. Osaic Holdings Inc. boosted its position in shares of AnaptysBio by 11,630.0% during the second quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 2,326 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of AnaptysBio by 131,540.0% during the 3rd quarter. Covestor Ltd now owns 6,582 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 6,577 shares during the last quarter.

AnaptysBio Company Profile

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.