AnaptysBio (NASDAQ:ANAB) Shares Gap Up to $23.94

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) gapped up before the market opened on Wednesday . The stock had previously closed at $23.94, but opened at $24.59. AnaptysBio shares last traded at $24.78, with a volume of 18,569 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ANAB. Leerink Partnrs reissued an “outperform” rating on shares of AnaptysBio in a research note on Tuesday, April 16th. JPMorgan Chase & Co. cut their price objective on AnaptysBio from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, April 1st. Wells Fargo & Company began coverage on AnaptysBio in a report on Thursday, April 11th. They issued an “overweight” rating and a $56.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $34.00 target price on shares of AnaptysBio in a report on Friday, May 10th. Finally, SVB Leerink began coverage on AnaptysBio in a report on Tuesday, April 16th. They issued an “outperform” rating and a $47.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, AnaptysBio has a consensus rating of “Moderate Buy” and a consensus target price of $46.38.

AnaptysBio Stock Up 4.0 %

The business has a 50-day moving average price of $24.28 and a two-hundred day moving average price of $23.30. The company has a market capitalization of $680.24 million, a price-to-earnings ratio of -4.06 and a beta of -0.25.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($1.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.10). AnaptysBio had a negative return on equity of 161.40% and a negative net margin of 711.17%. The firm had revenue of $7.18 million for the quarter, compared to analyst estimates of $4.55 million. On average, sell-side analysts anticipate that AnaptysBio, Inc. will post -6.04 EPS for the current fiscal year.

Insider Transactions at AnaptysBio

In related news, Director Hollings Renton sold 1,950 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $23.16, for a total value of $45,162.00. Following the completion of the sale, the director now directly owns 1,950 shares of the company’s stock, valued at approximately $45,162. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Dennis Mulroy sold 1,500 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $23.72, for a total value of $35,580.00. Following the completion of the sale, the chief financial officer now directly owns 964 shares of the company’s stock, valued at approximately $22,866.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Hollings Renton sold 1,950 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $23.16, for a total value of $45,162.00. Following the completion of the sale, the director now directly owns 1,950 shares of the company’s stock, valued at $45,162. The disclosure for this sale can be found here. Insiders have sold 5,400 shares of company stock valued at $125,924 over the last ninety days. 33.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently bought and sold shares of ANAB. Allspring Global Investments Holdings LLC bought a new position in AnaptysBio in the 1st quarter valued at $38,000. China Universal Asset Management Co. Ltd. grew its stake in AnaptysBio by 350.4% in the 4th 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. Quest Partners LLC bought a new position in AnaptysBio in the 4th quarter valued at $119,000. SG Americas Securities LLC bought a new position in AnaptysBio in the 4th quarter valued at $126,000. Finally, Virtu Financial LLC bought a new position in AnaptysBio in the 1st quarter valued at $222,000.

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.