AnaptysBio (NASDAQ:ANAB) Trading Down 6.2% – What’s Next?

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price dropped 6.2% during trading on Monday . The company traded as low as $54.87 and last traded at $54.4120. Approximately 130,067 shares changed hands during trading, a decline of 83% from the average daily volume of 753,997 shares. The stock had previously closed at $58.00.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ANAB shares. Weiss Ratings lowered shares of AnaptysBio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Zacks Research lowered shares of AnaptysBio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Piper Sandler lowered their target price on shares of AnaptysBio from $95.00 to $93.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. UBS Group raised their price objective on AnaptysBio from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Leerink Partners set a $90.00 target price on AnaptysBio in a research report on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.82.

AnaptysBio Trading Up 6.9%

The stock has a market cap of $1.59 billion, a PE ratio of -49.78 and a beta of 0.68. The company’s 50 day moving average is $58.91 and its 200-day moving average is $57.40.

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

AnaptysBio declared that its board has approved a stock buyback program on Friday, March 27th that allows the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization allows the biotechnology company to reacquire up to 5,352,316.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On AnaptysBio

A number of hedge funds have recently bought and sold shares of ANAB. Vanguard Group Inc. raised its position in shares of AnaptysBio by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company’s stock valued at $74,855,000 after purchasing an additional 67,048 shares in the last quarter. State Street Corp grew its position in shares of AnaptysBio by 20.6% during the fourth quarter. State Street Corp now owns 1,053,474 shares of the biotechnology company’s stock worth $51,072,000 after buying an additional 180,042 shares in the last quarter. Affinity Asset Advisors LLC increased its stake in shares of AnaptysBio by 111.4% in the first quarter. Affinity Asset Advisors LLC now owns 940,000 shares of the biotechnology company’s stock worth $52,132,000 after buying an additional 495,308 shares during the last quarter. 683 Capital Management LLC increased its stake in shares of AnaptysBio by 18.5% in the fourth quarter. 683 Capital Management LLC now owns 648,093 shares of the biotechnology company’s stock worth $31,420,000 after buying an additional 101,093 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in AnaptysBio by 283.2% in the first quarter. Bank of America Corp DE now owns 501,086 shares of the biotechnology company’s stock valued at $27,790,000 after acquiring an additional 370,319 shares in the last quarter.

About AnaptysBio

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.