AnaptysBio (NASDAQ:ANAB) Shares Down 10.3% – Time to Sell?

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price traded down 10.3% on Friday . The stock traded as low as $60.18 and last traded at $58.2930. 200,639 shares were traded during trading, a decline of 61% from the average session volume of 512,750 shares. The stock had previously closed at $64.99.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ANAB. Guggenheim reaffirmed a “buy” rating on shares of AnaptysBio in a research note on Thursday, December 18th. UBS Group boosted their price objective on shares of AnaptysBio from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AnaptysBio in a research report on Wednesday, January 21st. Wall Street Zen downgraded AnaptysBio from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, Wedbush upped their price target on AnaptysBio from $60.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, March 12th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AnaptysBio currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.44.

AnaptysBio Stock Performance

The firm has a market capitalization of $1.65 billion, a P/E ratio of -110.82 and a beta of 0.32. The firm’s 50-day moving average is $55.06 and its 200 day moving average is $43.24.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.69. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. The company had revenue of $108.25 million during the quarter, compared to analysts’ expectations of $87.09 million. As a group, research analysts expect that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

Insider Activity at AnaptysBio

In other news, CEO Daniel Faga sold 15,309 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $43.26, for a total transaction of $662,267.34. Following the completion of the sale, the chief executive officer owned 458,139 shares of the company’s stock, valued at approximately $19,819,093.14. This represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Magda Marquet sold 11,000 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $48.23, for a total value of $530,530.00. Following the transaction, the director directly owned 9,930 shares of the company’s stock, valued at approximately $478,923.90. The trade was a 52.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 92,514 shares of company stock valued at $4,243,935 in the last 90 days. Corporate insiders own 33.50% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Several institutional investors have recently bought and sold shares of ANAB. Vanguard Group Inc. grew its position in AnaptysBio by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company’s stock valued at $74,855,000 after buying an additional 67,048 shares during the period. State Street Corp raised its holdings in shares of AnaptysBio by 20.6% in the 4th quarter. State Street Corp now owns 1,053,474 shares of the biotechnology company’s stock worth $51,072,000 after purchasing an additional 180,042 shares during the period. Assenagon Asset Management S.A. lifted its stake in AnaptysBio by 4,852.7% in the third quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock valued at $25,719,000 after purchasing an additional 822,975 shares during the last quarter. 683 Capital Management LLC grew its holdings in AnaptysBio by 18.5% during the fourth quarter. 683 Capital Management LLC now owns 648,093 shares of the biotechnology company’s stock valued at $31,420,000 after purchasing an additional 101,093 shares during the period. Finally, Affinity Asset Advisors LLC purchased a new stake in AnaptysBio in the fourth quarter worth $21,559,000.

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.