AnaptysBio (NASDAQ:ANAB) Shares Gap Down – Should You Sell?

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $62.51, but opened at $60.65. AnaptysBio shares last traded at $56.1260, with a volume of 135,970 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ANAB shares. Zacks Research downgraded AnaptysBio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Wall Street Zen downgraded shares of AnaptysBio from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. Leerink Partners set a $90.00 price target on shares of AnaptysBio in a report on Friday, May 15th. HC Wainwright initiated coverage on shares of AnaptysBio in a research report on Wednesday, June 10th. They set a “buy” rating and a $95.00 price objective for the company. Finally, UBS Group increased their price objective on shares of AnaptysBio from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.82.

AnaptysBio Stock Down 9.5%

The stock has a market cap of $1.67 billion, a P/E ratio of -52.01 and a beta of 0.68. The company’s 50 day moving average price is $60.21 and its 200-day moving average price is $57.23.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($1.20). The company had revenue of $25.56 million for the quarter, compared to the consensus estimate of $18.86 million. Equities research analysts anticipate that AnaptysBio, Inc. will post -1.35 earnings per share for the current year.

AnaptysBio declared that its Board of Directors has approved a stock buyback program on Friday, March 27th that authorizes the company to buyback $100,000.00 billion in outstanding shares. This buyback authorization authorizes the biotechnology company to repurchase up to 5,352,316.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On AnaptysBio

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its position in shares of AnaptysBio by 5,864.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 821 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of AnaptysBio by 54.6% in the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 473 shares during the period. Tower Research Capital LLC TRC boosted its holdings in AnaptysBio by 175.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 1,377 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in AnaptysBio by 11,630.0% in the second quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 2,326 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in AnaptysBio by 24.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,345 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 263 shares during the period.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.