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

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

The biotechnology company reported ($1.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.72) by $0.58. AnaptysBio had a negative net margin of 558.25% and a negative return on equity of 255.68%. The firm had revenue of $30.02 million for the quarter, compared to analyst estimates of $7.92 million.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. UBS Group lifted their price target on 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. lifted their target price on AnaptysBio from $69.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Guggenheim boosted their target price on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Truist Financial raised their price target on shares of AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, HC Wainwright cut their price objective on shares of AnaptysBio from $55.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, AnaptysBio currently has a consensus rating of “Moderate Buy” and an average price target of $55.45.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in AnaptysBio during the first quarter worth $38,000. Values First Advisors Inc. bought a new stake in shares of AnaptysBio during the 3rd quarter worth about $49,000. nVerses Capital LLC grew its stake in AnaptysBio by 700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock valued at $54,000 after buying an additional 1,400 shares during the last quarter. Headlands Technologies LLC raised its holdings in AnaptysBio by 444.8% in the 2nd quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 2,900 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in AnaptysBio by 81.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 2,600 shares during the last quarter.

AnaptysBio Trading Down 3.2 %

The business has a fifty day moving average price of $33.00 and a 200-day moving average price of $29.83.

About AnaptysBio

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.