AnaptysBio (NASDAQ:ANAB) Shares Down 7% – What’s Next?

AnaptysBio, Inc. (NASDAQ:ANAB)’s stock price traded down 7% during trading on Tuesday . The stock traded as low as $65.76 and last traded at $64.8960. 183,360 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 748,869 shares. The stock had previously closed at $69.81.

Wall Street Analysts Forecast Growth

ANAB has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of AnaptysBio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. UBS Group boosted their price objective on shares of AnaptysBio from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. HC Wainwright assumed coverage on AnaptysBio in a report on Wednesday, June 10th. They set a “buy” rating and a $95.00 target price for the company. Barclays increased their target price on AnaptysBio from $63.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen downgraded AnaptysBio from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 16th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.82.

AnaptysBio Stock Down 7.3%

The firm has a market capitalization of $1.92 billion, a PE ratio of -60.16 and a beta of 0.68. The company’s 50-day simple moving average is $60.35 and its 200 day simple moving average is $57.14.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($1.20). The firm had revenue of $25.56 million for the quarter, compared to analysts’ expectations of $18.86 million. On average, sell-side analysts forecast that AnaptysBio, Inc. will post -1.35 earnings per share for the current fiscal year.

AnaptysBio announced that its Board of Directors has authorized a stock buyback plan on Friday, March 27th that permits the company to repurchase $100,000.00 billion in shares. This repurchase authorization permits the biotechnology company to repurchase up to 5,352,316.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On AnaptysBio

Large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its holdings in shares of AnaptysBio by 5,864.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 821 shares during the last quarter. Larson Financial Group LLC grew its stake in AnaptysBio by 54.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after buying an additional 473 shares during the last quarter. 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 buying an additional 263 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in AnaptysBio by 940.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,530 shares of the biotechnology company’s stock valued at $74,000 after buying an additional 1,383 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in AnaptysBio by 987.3% in the fourth quarter. Royal Bank of Canada now owns 1,718 shares of the biotechnology company’s stock valued at $83,000 after buying an additional 1,560 shares during the last quarter.

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.