AnaptysBio (NASDAQ:ANAB) Shares Up 6.5% – Time to Buy?

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price shot up 6.5% during trading on Wednesday . The stock traded as high as $23.44 and last traded at $23.44. 104,245 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 357,070 shares. The stock had previously closed at $22.00.

Analyst Ratings Changes

Several research firms have recently commented on ANAB. BTIG Research downgraded AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday. Guggenheim upped their target price on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Truist Financial upped their target price on AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. decreased their target price on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Finally, HC Wainwright decreased their target price on AnaptysBio from $55.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, AnaptysBio currently has a consensus rating of “Moderate Buy” and an average target price of $54.64.

AnaptysBio Stock Performance

The stock has a fifty day simple moving average of $27.65 and a two-hundred day simple moving average of $29.72. The stock has a market cap of $723.60 million, a price-to-earnings ratio of -3.86 and a beta of -0.11.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.72) by $0.58. The firm had revenue of $30.02 million for the quarter, compared to the consensus estimate of $7.92 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. Equities analysts expect that AnaptysBio, Inc. will post -6.02 earnings per share for the current fiscal year.

Insider Buying and Selling at AnaptysBio

In other news, insider Eric J. Loumeau sold 8,720 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $39.82, for a total value of $347,230.40. Following the completion of the transaction, the insider now directly owns 7,020 shares in the company, valued at approximately $279,536.40. This represents a 55.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dennis Mulroy sold 12,220 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $39.91, for a total value of $487,700.20. Following the completion of the transaction, the chief financial officer now owns 4,744 shares of the company’s stock, valued at $189,333.04. The trade was a 72.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,440 shares of company stock valued at $892,936. 33.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Values First Advisors Inc. acquired a new position in shares of AnaptysBio in the third quarter worth approximately $49,000. nVerses Capital LLC raised its holdings in AnaptysBio by 700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 1,400 shares during the last quarter. Headlands Technologies LLC lifted its position in shares of AnaptysBio by 444.8% in the 2nd quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock worth $89,000 after purchasing an additional 2,900 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of AnaptysBio by 81.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Point72 DIFC Ltd increased its position in shares of AnaptysBio by 680.5% during the third quarter. Point72 DIFC Ltd now owns 6,127 shares of the biotechnology company’s stock worth $205,000 after buying an additional 5,342 shares during the period.

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.