AnaptysBio (NASDAQ:ANAB) Shares Down 7% - Time to Sell?

Key Points

• AnaptysBio shares fell 7% in Tuesday trading, with the stock hitting an intraday low of $65.76 after closing at $69.81 the prior session.
• Despite the pullback, analyst sentiment remains generally positive: several firms recently raised price targets, and the consensus rating is Moderate Buy with an average target of $81.82.
• The company’s latest earnings showed a wider-than-expected loss, reporting EPS of -$1.84 versus estimates of -$0.64, though revenue came in above expectations at $25.56 million.

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report)'s share price traded down 7% during mid-day trading on Tuesday . The stock traded as low as $65.76 and last traded at $64.8960. 183,360 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 748,869 shares. The stock had previously closed at $69.81.

Analysts Set New Price Targets

A number of analysts recently weighed in on ANAB shares. UBS Group increased their price objective on shares of AnaptysBio from $60.00 to $76.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Leerink Partners set a $90.00 target price on AnaptysBio in a research note on Friday, May 15th. Barclays increased their price target on AnaptysBio from $63.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 13th. Weiss Ratings lowered AnaptysBio from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 13th. Finally, Zacks Research downgraded AnaptysBio from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $81.82.

AnaptysBio Stock Performance

The company has a market cap of $1.92 billion, a P/E ratio of -60.16 and a beta of 0.68. The business's fifty day moving average is $60.35 and its two-hundred day moving average is $57.14.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) EPS for the quarter, missing analysts' consensus estimates of ($0.64) by ($1.20). The business had revenue of $25.56 million for the quarter, compared to analyst estimates of $18.86 million. Analysts expect that AnaptysBio, Inc. will post -1.35 EPS for the current fiscal year.

AnaptysBio declared that its Board of Directors has initiated a stock repurchase program on Friday, March 27th that permits the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization permits the biotechnology company to buy up to 5,352,316.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Granahan Investment Management LLC grew its position in shares of AnaptysBio by 12.2% during the 3rd quarter. Granahan Investment Management LLC now owns 147,773 shares of the biotechnology company's stock worth $4,525,000 after buying an additional 16,118 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of AnaptysBio by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company's stock valued at $74,855,000 after acquiring an additional 67,048 shares in the last quarter. Sofinnova Investments Inc. lifted its stake in AnaptysBio by 13.1% in the fourth quarter. Sofinnova Investments Inc. now owns 287,690 shares of the biotechnology company's stock worth $13,947,000 after acquiring an additional 33,422 shares during the period. 683 Capital Management LLC lifted its stake in AnaptysBio by 18.5% in 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 period. Finally, BNP Paribas Financial Markets grew its holdings in AnaptysBio by 56.0% during the 4th quarter. BNP Paribas Financial Markets now owns 164,823 shares of the biotechnology company's stock worth $7,991,000 after acquiring an additional 59,160 shares in the last quarter.

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.

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