AnaptysBio (NASDAQ:ANAB) Shares Gap Up After Strong Earnings

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $19.88, but opened at $22.21. AnaptysBio shares last traded at $21.23, with a volume of 41,187 shares trading hands.

The biotechnology company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.72) by $0.58. The company had revenue of $30.02 million during the quarter, compared to analysts’ expectations of $7.92 million. AnaptysBio had a negative net margin of 558.25% and a negative return on equity of 255.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of AnaptysBio from $69.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Truist Financial upped their target price on shares of AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of AnaptysBio in a report on Thursday, October 31st. Finally, Guggenheim raised their target price on shares of AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, AnaptysBio presently has an average rating of “Moderate Buy” and an average price target of $55.73.

Insider Transactions at AnaptysBio

In other news, insider Paul F. Lizzul sold 1,500 shares of AnaptysBio stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $38.67, for a total transaction of $58,005.00. Following the completion of the sale, the insider now owns 15,398 shares of the company’s stock, valued at approximately $595,440.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AnaptysBio news, major shareholder Ecor1 Capital, Llc bought 273,972 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $36.50 per share, with a total value of $9,999,978.00. Following the completion of the purchase, the insider now owns 7,794,996 shares in the company, valued at $284,517,354. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul F. Lizzul sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $38.67, for a total value of $58,005.00. Following the completion of the sale, the insider now owns 15,398 shares in the company, valued at $595,440.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,440 shares of company stock valued at $892,936. 33.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

Institutional investors and hedge funds have recently made changes to their positions in the business. Frazier Life Sciences Management L.P. increased its stake in AnaptysBio by 140.7% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,165,591 shares of the biotechnology company’s stock valued at $54,270,000 after buying an additional 1,265,891 shares during the last quarter. StemPoint Capital LP boosted its holdings in AnaptysBio by 499.0% in the 1st quarter. StemPoint Capital LP now owns 269,548 shares of the biotechnology company’s stock worth $6,070,000 after buying an additional 224,548 shares during the period. Victory Capital Management Inc. boosted its holdings in AnaptysBio by 677.9% in the 3rd quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company’s stock worth $7,948,000 after buying an additional 206,750 shares during the period. Assenagon Asset Management S.A. boosted its holdings in AnaptysBio by 55.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock valued at $15,927,000 after purchasing an additional 168,813 shares during the period. Finally, Platinum Investment Management Ltd. bought a new position in AnaptysBio in the 1st quarter valued at $1,490,000.

AnaptysBio Trading Up 9.7 %

The company’s fifty day simple moving average is $33.59 and its 200 day simple moving average is $29.94. The stock has a market capitalization of $598.06 million, a P/E ratio of -3.34 and a beta of -0.24.

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.