AnaptysBio (NASDAQ:ANAB) Stock Price Down 4.5% - Should You Sell?

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) shares traded down 4.5% on Thursday . The company traded as low as $19.83 and last traded at $20.32. 75,356 shares traded hands during trading, a decline of 88% from the average session volume of 621,274 shares. The stock had previously closed at $21.27.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. HC Wainwright upgraded shares of AnaptysBio from a "neutral" rating to a "buy" rating and boosted their target price for the company from $22.00 to $38.00 in a research note on Wednesday. Johnson Rice reiterated a "buy" rating on shares of AnaptysBio in a research note on Wednesday, March 26th. Wedbush reiterated an "outperform" rating and set a $40.00 target price on shares of AnaptysBio in a research note on Thursday, May 29th. Guggenheim reiterated a "buy" rating and set a $90.00 target price (up from $54.00) on shares of AnaptysBio in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of AnaptysBio from $36.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, AnaptysBio has an average rating of "Moderate Buy" and a consensus target price of $42.38.

AnaptysBio Stock Performance

The firm's fifty day simple moving average is $20.00 and its 200 day simple moving average is $18.33. The firm has a market cap of $696.31 million, a P/E ratio of -3.90 and a beta of -0.20.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The biotechnology company reported ($1.28) EPS for the quarter, beating the consensus estimate of ($1.30) by $0.02. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The business had revenue of $27.77 million during the quarter, compared to the consensus estimate of $15.27 million. On average, equities research analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio declared that its board has approved a stock repurchase plan on Monday, March 24th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the biotechnology company to reacquire up to 13.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE grew its position in AnaptysBio by 126.5% in the first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock worth $33,000 after acquiring an additional 979 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of 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 purchasing an additional 1,858 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of AnaptysBio by 131.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 1,531 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of AnaptysBio in the 4th quarter worth approximately $40,000. Finally, AlphaQuest LLC increased its position in shares of AnaptysBio by 1,891.5% during the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock valued at $59,000 after purchasing an additional 4,237 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.