AnaptysBio (NASDAQ:ANAB) Trading Down 4.6% Following Analyst Downgrade

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price was down 4.6% during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $30.00 to $28.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. AnaptysBio traded as low as $21.17 and last traded at $21.48. Approximately 79,543 shares were traded during trading, a decline of 73% from the average daily volume of 297,461 shares. The stock had previously closed at $22.52.

ANAB has been the subject of several other research reports. BTIG Research initiated coverage on shares of AnaptysBio in a research note on Monday, February 26th. They issued a “buy” rating and a $55.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of AnaptysBio in a research note on Wednesday, February 21st. They issued a “buy” rating and a $50.00 price objective for the company. Wedbush upgraded shares of AnaptysBio from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $20.00 to $34.00 in a research note on Tuesday, March 12th. Finally, Piper Sandler initiated coverage on shares of AnaptysBio in a research note on Friday, February 16th. They issued an “overweight” rating and a $80.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, AnaptysBio presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.71.

Insiders Place Their Bets

In other AnaptysBio news, CEO Daniel Faga sold 3,000 shares of AnaptysBio stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $21.42, for a total transaction of $64,260.00. Following the completion of the transaction, the chief executive officer now owns 749,087 shares in the company, valued at $16,045,443.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Daniel Faga sold 3,000 shares of AnaptysBio stock in a transaction dated Monday, March 25th. The shares were 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 directly owns 749,087 shares in the company, valued at $16,045,443.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric J. Loumeau sold 5,000 shares of AnaptysBio stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the insider now owns 3,240 shares of the company’s stock, valued at $81,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,605 shares of company stock worth $3,839,195. Insiders own 35.50% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

A number of hedge funds and other institutional investors have recently modified their holdings of ANAB. Quantbot Technologies LP purchased a new stake in shares of AnaptysBio during the second quarter worth about $34,000. Tower Research Capital LLC TRC grew its holdings 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 purchasing an additional 2,565 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings 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 during the period. BNP Paribas Arbitrage SA grew its holdings 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 purchasing an additional 2,142 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in AnaptysBio by 134.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,896 shares of the biotechnology company’s stock valued at $106,000 after purchasing an additional 3,381 shares during the period.

AnaptysBio Stock Down 2.3 %

The business’s fifty day moving average is $23.84 and its 200-day moving average is $20.28. The stock has a market capitalization of $557.68 million, a PE ratio of -3.43 and a beta of -0.30.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Monday, March 11th. The biotechnology company reported ($1.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.74) by $0.15. AnaptysBio had a negative net margin of 953.66% and a negative return on equity of 119.42%. The firm had revenue of $9.01 million during the quarter, compared to the consensus estimate of $3.28 million. As a group, sell-side analysts anticipate that AnaptysBio, Inc. will post -6.01 EPS for the current fiscal year.

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.