AnaptysBio (NASDAQ:ANAB) Shares Gap Up to $22.17

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $22.17, but opened at $24.81. AnaptysBio shares last traded at $24.63, with a volume of 80,691 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ANAB. Piper Sandler began coverage on shares of AnaptysBio in a research note on Friday, February 16th. They issued an “overweight” rating and a $80.00 target price for the company. Wedbush raised AnaptysBio from a “neutral” rating to an “outperform” rating and raised their price target for the company from $20.00 to $34.00 in a report on Tuesday, March 12th. JPMorgan Chase & Co. cut their price target on AnaptysBio from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, April 1st. BTIG Research began coverage on AnaptysBio in a report on Monday, February 26th. They set a “buy” rating and a $55.00 price target for the company. Finally, Stifel Nicolaus began coverage on AnaptysBio in a report on Wednesday, February 21st. They set a “buy” rating and a $50.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $46.13.

AnaptysBio Stock Down 8.2 %

The company has a market cap of $607.72 million, a price-to-earnings ratio of -3.74 and a beta of -0.30. The stock has a fifty day moving average price of $23.53 and a two-hundred day moving average price of $20.46.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Monday, March 11th. The biotechnology company reported ($1.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.74) by $0.15. AnaptysBio had a negative return on equity of 119.42% and a negative net margin of 953.66%. The company had revenue of $9.01 million during the quarter, compared to the consensus estimate of $3.28 million. Analysts predict that AnaptysBio, Inc. will post -6.25 earnings per share for the current fiscal year.

Insider Transactions at AnaptysBio

In other news, CEO Daniel Faga sold 3,000 shares of AnaptysBio stock in a transaction on Monday, March 25th. The stock was sold at an average price of $21.42, for a total transaction of $64,260.00. Following the completion of the sale, the chief executive officer now owns 749,087 shares of the company’s stock, valued at $16,045,443.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Eric J. Loumeau sold 5,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the transaction, the insider now owns 3,240 shares of the company’s stock, valued at $81,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel Faga sold 3,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $21.42, for a total value of $64,260.00. Following the completion of the transaction, the chief executive officer now directly owns 749,087 shares of the company’s stock, valued at approximately $16,045,443.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,005 shares of company stock valued at $3,586,199. 35.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new position in AnaptysBio in the second quarter valued at about $34,000. China Universal Asset Management Co. Ltd. raised its stake in AnaptysBio by 350.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,072 shares of the biotechnology company’s stock valued at $66,000 after purchasing an additional 2,390 shares in the last quarter. Tower Research Capital LLC TRC grew its position in AnaptysBio by 248.8% in the third quarter. Tower Research Capital LLC TRC now owns 3,596 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 2,565 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in AnaptysBio by 75.4% in the second quarter. BNP Paribas Arbitrage SA now owns 4,984 shares of the biotechnology company’s stock valued at $101,000 after acquiring an additional 2,142 shares during the last quarter. Finally, Quest Partners LLC bought a new position in AnaptysBio in the fourth quarter valued at about $119,000.

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.