AnaptysBio (NASDAQ:ANAB) Shares Gap Up – Time to Buy?

by · The Markets Daily

AnaptysBio, Inc. (NASDAQ:ANAB – Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $15.99, but opened at $16.46. AnaptysBio shares last traded at $16.52, with a volume of 185,473 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ANAB shares. HC Wainwright lowered AnaptysBio from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $52.00 to $19.00 in a research note on Wednesday, December 11th. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price target (down from $42.00) on shares of AnaptysBio in a report on Wednesday, December 11th. JPMorgan Chase & Co. lowered their target price on AnaptysBio from $66.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday. UBS Group raised their target price on AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company cut their target price on shares of AnaptysBio from $56.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.45.

Check Out Our Latest Analysis on ANAB

AnaptysBio Stock Performance

The company has a 50 day moving average price of $24.25 and a 200 day moving average price of $29.21. The firm has a market cap of $442.74 million, a price-to-earnings ratio of -2.39 and a beta of -0.11.

AnaptysBio (NASDAQ:ANAB – Get Free Report) last announced its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.72) by $0.58. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The company had revenue of $30.02 million during the quarter, compared to analysts’ expectations of $7.92 million. On average, research analysts forecast that AnaptysBio, Inc. will post -6.02 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Paul F. Lizzul sold 1,500 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.67, for a total value of $58,005.00. Following the completion of the sale, the insider now directly owns 15,398 shares of the company’s stock, valued at $595,440.66. This represents a 8.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANAB. Frazier Life Sciences Management L.P. raised its position in AnaptysBio by 140.7% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,165,591 shares of the biotechnology company’s stock valued at $54,270,000 after purchasing an additional 1,265,891 shares during the last quarter. FMR LLC raised its stake in shares of AnaptysBio by 15.3% during the third quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock worth $110,857,000 after purchasing an additional 438,557 shares during the last quarter. Jennison Associates LLC purchased a new position in AnaptysBio during the 3rd quarter worth $8,874,000. Victory Capital Management Inc. lifted its holdings in shares of AnaptysBio by 677.9% in the 3rd quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company’s stock valued at $7,948,000 after buying an additional 206,750 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of AnaptysBio by 55.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after purchasing an additional 168,813 shares in the last quarter.

AnaptysBio Company Profile

(Get Free Report)

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.

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