AnaptysBio (NASDAQ:ANAB) Stock Price Down 5.9% - Time to Sell?

Key Points

• AnaptysBio's shares fell by 5.9% during trading, closing at $30.07, which is a significant decline in trading volume.
• Analysts maintain a generally positive outlook, with price targets ranging from $20.00 to $80.00, and a consensus rating of "Moderate Buy."
• The company reported better-than-expected earnings, with revenue of $22.26 million for the quarter, exceeding analysts' expectations significantly.

Shares of AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) traded down 5.9% during trading on Thursday . The company traded as low as $30.00 and last traded at $30.07. 336,493 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 743,567 shares. The stock had previously closed at $31.97.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ANAB shares. Wedbush reiterated an "outperform" rating and issued a $45.00 price target on shares of AnaptysBio in a research report on Tuesday. HC Wainwright increased their target price on shares of AnaptysBio from $38.00 to $59.00 and gave the stock a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of AnaptysBio from $42.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, UBS Group restated a "neutral" rating and issued a $20.00 price objective (up previously from $18.00) on shares of AnaptysBio in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.75.

AnaptysBio Stock Down 2.8%

The firm has a market capitalization of $869.96 million, a price-to-earnings ratio of -6.94 and a beta of -0.18. The business's fifty day moving average is $22.25 and its 200 day moving average is $21.63.

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

Institutional Trading of AnaptysBio

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Light Asset Management LLC boosted its position in AnaptysBio by 433.3% during the first quarter. First Light Asset Management LLC now owns 4,633,602 shares of the biotechnology company's stock valued at $86,139,000 after purchasing an additional 3,764,720 shares during the last quarter. Caption Management LLC raised its stake in shares of AnaptysBio by 106.3% during the 1st quarter. Caption Management LLC now owns 23,376 shares of the biotechnology company's stock worth $435,000 after purchasing an additional 394,634 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of AnaptysBio by 63.1% in the 1st quarter. Woodline Partners LP now owns 791,023 shares of the biotechnology company's stock valued at $14,705,000 after buying an additional 305,950 shares during the last quarter. 683 Capital Management LLC grew its stake in shares of AnaptysBio by 155.6% in the second quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company's stock valued at $11,100,000 after buying an additional 304,373 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in AnaptysBio by 1,631.6% during the second quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company's stock worth $5,497,000 after buying an additional 233,325 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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