AnaptysBio (NASDAQ:ANAB) Shares Gap Up – What’s Next?

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) gapped up before the market opened on Tuesday . The stock had previously closed at $24.38, but opened at $25.16. AnaptysBio shares last traded at $23.98, with a volume of 17,913 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group increased their target price on shares of AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. BTIG Research lowered AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday. Truist Financial lifted their price objective on AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Wedbush restated an “outperform” rating and set a $42.00 target price on shares of AnaptysBio in a report on Thursday, November 14th. Finally, HC Wainwright reduced their price target on shares of AnaptysBio from $55.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.64.

AnaptysBio Stock Performance

The firm has a 50-day moving average price of $27.91 and a two-hundred day moving average price of $29.74.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly 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. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The firm had revenue of $30.02 million during the quarter, compared to analysts’ expectations of $7.92 million. Research analysts forecast that AnaptysBio, Inc. will post -6.02 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Paul F. Lizzul sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $38.67, for a total value of $58,005.00. Following the transaction, the insider now owns 15,398 shares of the company’s stock, valued at approximately $595,440.66. The trade was a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Dennis Mulroy sold 12,220 shares of AnaptysBio stock in a transaction on Monday, September 16th. The shares were sold at an average price of $39.91, for a total transaction of $487,700.20. Following the completion of the transaction, the chief financial officer now owns 4,744 shares in the company, valued at approximately $189,333.04. This trade represents a 72.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,440 shares of company stock valued at $892,936. 33.70% of the stock is currently owned by company insiders.

Institutional Trading of AnaptysBio

Hedge funds have recently made changes to their positions in the company. FMR LLC lifted its position in AnaptysBio by 15.3% in the third quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock valued at $110,857,000 after purchasing an additional 438,557 shares during the period. Frazier Life Sciences Management L.P. boosted its position in shares of AnaptysBio by 2.0% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company’s stock worth $74,008,000 after purchasing an additional 43,598 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of AnaptysBio by 55.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after purchasing an additional 168,813 shares during the period. Geode Capital Management LLC boosted its holdings in AnaptysBio by 3.0% during the third quarter. Geode Capital Management LLC now owns 465,401 shares of the biotechnology company’s stock worth $15,594,000 after buying an additional 13,336 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of AnaptysBio during the 3rd quarter valued at approximately $8,874,000.

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.