AnaptysBio (NASDAQ:ANAB) Stock Price Down 9.8% - Time to Sell?

Key Points

• AnaptysBio's stock price fell 9.8% during trading on Wednesday, closing at $23.66 after reaching a low of $24.29, with trading volume significantly down by 85% compared to its average session.
• Multiple analysts have set new price targets for AnaptysBio, with Guggenheim raising its target to $90.00 and JPMorgan Chase lifting theirs to $80.00, while overall the stock has an average rating of "Moderate Buy" with a target price of $47.13.
• Insider trading activity includes Director Hollings Renton selling 20,925 shares for approximately $493,202, which marked an 80.82% reduction in his position in the company.

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) traded down 9.8% during mid-day trading on Wednesday . The stock traded as low as $24.29 and last traded at $23.66. 122,009 shares changed hands during trading, a decline of 85% from the average session volume of 788,314 shares. The stock had previously closed at $26.22.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. HC Wainwright upgraded AnaptysBio from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $22.00 to $38.00 in a research report on Wednesday, June 4th. Guggenheim reiterated a "buy" rating and set a $90.00 target price (up previously from $54.00) on shares of AnaptysBio in a research report on Wednesday, May 28th. JPMorgan Chase & Co. boosted their target price on AnaptysBio from $42.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Wedbush reiterated an "outperform" rating and set a $40.00 target price on shares of AnaptysBio in a research report on Thursday, May 29th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $47.13.

AnaptysBio Stock Performance

The firm has a market cap of $725.39 million, a price-to-earnings ratio of -5.09 and a beta of -0.20. The business has a fifty day moving average of $24.09 and a two-hundred day moving average of $20.25.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share for the quarter, topping analysts' consensus estimates of ($1.30) by $0.02. The business had revenue of $27.77 million for the quarter, compared to analysts' expectations of $15.27 million. AnaptysBio had a negative return on equity of 282.47% and a negative net margin of 125.70%. On average, equities research analysts forecast that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

Insider Buying and Selling at AnaptysBio

In related news, Director Hollings Renton sold 20,925 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $23.57, for a total value of $493,202.25. Following the sale, the director owned 4,965 shares in the company, valued at $117,025.05. This represents a 80.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 33.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE lifted its stake in AnaptysBio by 126.5% in the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock valued at $33,000 after buying an additional 979 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in AnaptysBio by 9,778.9% in the 1st quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company's stock valued at $35,000 after buying an additional 1,858 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in AnaptysBio by 131.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock valued at $36,000 after buying an additional 1,531 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in AnaptysBio in the 4th quarter valued at approximately $40,000. Finally, Virtus ETF Advisers LLC lifted its stake in AnaptysBio by 24.7% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company's stock valued at $63,000 after buying an additional 936 shares in the last quarter.

AnaptysBio Company Profile

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.