AnaptysBio (NASDAQ:ANAB) Shares Gap Up – Here’s What Happened

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price gapped up prior to trading 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 traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ANAB shares. Guggenheim lifted their price target on AnaptysBio from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Wedbush reaffirmed an “outperform” rating and issued a $42.00 price target on shares of AnaptysBio in a research note on Thursday, November 14th. Truist Financial lifted their price target on AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. BTIG Research cut AnaptysBio from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their price target on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.64.

AnaptysBio Stock Up 9.5 %

The company has a market capitalization of $732.73 million, a P/E ratio of -3.96 and a beta of -0.11. The company has a 50-day moving average of $27.48 and a two-hundred day moving average of $29.68.

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

Insider Activity at AnaptysBio

In other AnaptysBio news, insider Paul F. Lizzul sold 1,500 shares of the business’s stock in a transaction 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 sale, the insider now directly 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 legal filing with the SEC, which can be accessed through this link. Also, insider Eric J. Loumeau sold 8,720 shares of the business’s 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 sale, the insider now directly owns 7,020 shares in the company, valued at $279,536.40. This trade represents a 55.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,440 shares of company stock worth $892,936 over the last ninety days. 33.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

Hedge funds have recently added to or reduced their stakes in the stock. Values First Advisors Inc. bought a new stake in AnaptysBio in the third quarter worth $49,000. nVerses Capital LLC raised its stake in shares of AnaptysBio by 700.0% in the third 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 raised its stake in shares of AnaptysBio by 444.8% in the second 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 last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of AnaptysBio by 81.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock worth $195,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Point72 DIFC Ltd raised its stake in shares of AnaptysBio by 680.5% in the third quarter. Point72 DIFC Ltd now owns 6,127 shares of the biotechnology company’s stock worth $205,000 after purchasing an additional 5,342 shares during the last quarter.

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.