AnaptysBio (NASDAQ:ANAB) Stock Price Down 4.3% - Here's What Happened

Key Points

• Shares of AnaptysBio, Inc. (NASDAQ:ANAB) fell 4.3% to $22.40 amid reduced trading volume, significantly down from its average.
• Analysts have various ratings on AnaptysBio, with a consensus "Moderate Buy" and an average price target of $46.13, reflecting positive growth expectations.
• The company reported earnings of ($1.34) per share, surpassing estimates, with revenues of $22.26 million for the quarter, exceeding analyst expectations.

Shares of AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) fell 4.3% on Monday . The stock traded as low as $22.66 and last traded at $22.40. 253,540 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 730,746 shares. The stock had previously closed at $23.40.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ANAB. Guggenheim reissued a "buy" rating and issued a $90.00 price objective (up previously from $54.00) on shares of AnaptysBio in a research report on Wednesday, May 28th. HC Wainwright raised shares of AnaptysBio from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $22.00 to $38.00 in a research report on Wednesday, June 4th. UBS Group reissued a "neutral" rating and issued a $20.00 target price (up from $18.00) on shares of AnaptysBio in a research report on Tuesday, August 12th. Wedbush raised their target price on AnaptysBio from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.13.

AnaptysBio Trading Down 13.8%

The firm has a 50-day simple moving average of $23.00 and a 200-day simple moving average of $21.15.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.50) by $0.16. AnaptysBio had a negative return on equity of 366.98% and a negative net margin of 107.66%.The firm had revenue of $22.26 million for the quarter, compared to analysts' expectations of $11.55 million. As a group, sell-side analysts forecast that AnaptysBio, Inc. will post -6.08 EPS for the current year.

Insider Buying and Selling at AnaptysBio

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. HighMark Wealth Management LLC purchased a new position in shares of AnaptysBio during the 1st quarter valued at $1,710,000. Two Sigma Investments LP boosted its position in shares of AnaptysBio by 66.4% during the 4th quarter. Two Sigma Investments LP now owns 352,034 shares of the biotechnology company's stock valued at $4,661,000 after acquiring an additional 140,457 shares during the last quarter. Moody Aldrich Partners LLC bought a new stake in shares of AnaptysBio during the 1st quarter valued at about $1,547,000. BIT Capital GmbH bought a new stake in shares of AnaptysBio during the 1st quarter valued at about $473,000. Finally, Northern Trust Corp boosted its position in shares of AnaptysBio by 10.0% during the 4th quarter. Northern Trust Corp now owns 219,986 shares of the biotechnology company's stock valued at $2,913,000 after acquiring an additional 20,073 shares during the last quarter.

About AnaptysBio

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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