AnaptysBio (NASDAQ:ANAB) Shares Gap Up Following Better-Than-Expected Earnings

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $16.40, but opened at $19.45. AnaptysBio shares last traded at $16.11, with a volume of 146,707 shares traded.

The biotechnology company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.89. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The company had revenue of $43.11 million for the quarter, compared to analysts’ expectations of $10.17 million.

Analyst Ratings Changes

ANAB has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of AnaptysBio in a research note on Wednesday, February 12th. JPMorgan Chase & Co. cut their price objective on AnaptysBio from $66.00 to $36.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wolfe Research initiated coverage on AnaptysBio in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 target price on the stock. Wells Fargo & Company raised their price target on AnaptysBio from $40.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Guggenheim reduced their price objective on AnaptysBio from $90.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AnaptysBio presently has an average rating of “Moderate Buy” and a consensus target price of $34.11.

Insider Transactions at AnaptysBio

In related news, Director Ecor1 Capital, Llc purchased 65,184 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $12.92 per share, for a total transaction of $842,177.28. Following the completion of the transaction, the director now directly owns 7,860,180 shares in the company, valued at $101,553,525.60. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of AnaptysBio by 131.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 1,531 shares during the period. KLP Kapitalforvaltning AS bought a new stake in AnaptysBio in the fourth quarter worth about $40,000. AlphaQuest LLC boosted its position in shares of AnaptysBio by 1,891.5% during the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock valued at $59,000 after buying an additional 4,237 shares during the period. Virtus ETF Advisers LLC grew its stake in shares of AnaptysBio by 24.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 936 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of AnaptysBio by 1,585.8% in the fourth quarter. Russell Investments Group Ltd. now owns 5,698 shares of the biotechnology company’s stock worth $75,000 after buying an additional 5,360 shares during the period.

AnaptysBio Trading Up 2.6 %

The stock has a 50 day moving average of $16.01 and a 200-day moving average of $24.65. The stock has a market capitalization of $511.82 million and a P/E ratio of -2.77.

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.