AnaptysBio (NASDAQ:ANAB) Shares Down 10.3% - Time to Sell?

Key Points

• Shares of AnaptysBio fell 10.3% on Friday to about $58.29, with 200,639 shares traded — roughly 61% below the stock's average session volume.
• Analysts have a consensus rating of Moderate Buy (8 Buys, 1 Hold, 1 Sell) and a consensus target price of $78.44, with several firms raising targets (e.g., UBS to $90, Wedbush to $75).
• The company beat quarterly estimates (EPS $1.58 vs. $0.89; revenue $108.25M vs. $87.09M) but still shows a negative net margin and analysts forecast roughly -6.08 EPS for the current fiscal year.

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report)'s share price traded down 10.3% on Friday . The stock traded as low as $60.18 and last traded at $58.2930. 200,639 shares were traded during trading, a decline of 61% from the average session volume of 512,750 shares. The stock had previously closed at $64.99.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ANAB. Guggenheim reaffirmed a "buy" rating on shares of AnaptysBio in a research note on Thursday, December 18th. UBS Group boosted their price objective on shares of AnaptysBio from $70.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, March 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of AnaptysBio in a research report on Wednesday, January 21st. Wall Street Zen downgraded AnaptysBio from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 23rd. Finally, Wedbush upped their price target on AnaptysBio from $60.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, March 12th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AnaptysBio currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.44.

AnaptysBio Stock Performance

The firm has a market capitalization of $1.65 billion, a P/E ratio of -110.82 and a beta of 0.32. The firm's 50-day moving average is $55.06 and its 200 day moving average is $43.24.

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

Insider Activity at AnaptysBio

In other news, CEO Daniel Faga sold 15,309 shares of the company's stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $43.26, for a total transaction of $662,267.34. Following the completion of the sale, the chief executive officer owned 458,139 shares of the company's stock, valued at approximately $19,819,093.14. This represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Magda Marquet sold 11,000 shares of the business's stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $48.23, for a total value of $530,530.00. Following the transaction, the director directly owned 9,930 shares of the company's stock, valued at approximately $478,923.90. The trade was a 52.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 92,514 shares of company stock valued at $4,243,935 in the last 90 days. Corporate insiders own 33.50% of the company's stock.

Institutional Investors Weigh In On AnaptysBio

Several institutional investors have recently bought and sold shares of ANAB. Vanguard Group Inc. grew its position in AnaptysBio by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company's stock valued at $74,855,000 after buying an additional 67,048 shares during the period. State Street Corp raised its holdings 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 purchasing an additional 180,042 shares during the period. Assenagon Asset Management S.A. lifted its stake in AnaptysBio by 4,852.7% in the third 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 holdings in AnaptysBio by 18.5% during the fourth quarter. 683 Capital Management LLC now owns 648,093 shares of the biotechnology company's stock valued at $31,420,000 after purchasing an additional 101,093 shares during the period. Finally, Affinity Asset Advisors LLC purchased a new stake in AnaptysBio in the fourth quarter worth $21,559,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.