AnaptysBio (NASDAQ:ANAB) Shares Down 6.2% – Here’s Why

AnaptysBio, Inc. (NASDAQ:ANABGet Free Report)’s stock price fell 6.2% during mid-day trading on Monday . The company traded as low as $54.87 and last traded at $54.4120. 130,067 shares traded hands during mid-day 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

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

View Our Latest Stock Analysis on AnaptysBio

AnaptysBio Price Performance

The stock’s fifty day simple moving average is $59.50 and its 200-day simple moving average is $57.35. The company has a market capitalization of $1.61 billion, a P/E ratio of -50.22 and a beta of 0.68.

AnaptysBio (NASDAQ:ANABGet Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The biotechnology company reported ($1.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($1.20). The firm had revenue of $25.56 million during the quarter, compared to analyst estimates of $18.86 million. On average, research analysts predict 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 allows the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization allows the biotechnology company to repurchase up to 5,352,316.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ANAB. Vanguard Group Inc. boosted its holdings in 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 during the period. Sofinnova Investments Inc. increased its holdings in shares of AnaptysBio by 13.1% during the 4th quarter. Sofinnova Investments Inc. now owns 287,690 shares of the biotechnology company’s stock worth $13,947,000 after purchasing an additional 33,422 shares during the period. 683 Capital Management LLC raised its position in shares of 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 buying an additional 101,093 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of AnaptysBio by 56.0% during the fourth quarter. BNP Paribas Financial Markets now owns 164,823 shares of the biotechnology company’s stock valued at $7,991,000 after buying an additional 59,160 shares during the last quarter. Finally, Tema Etfs LLC lifted its stake in shares of AnaptysBio by 105.6% in the fourth quarter. Tema Etfs LLC now owns 22,560 shares of the biotechnology company’s stock valued at $1,094,000 after buying an additional 11,585 shares during the period.

AnaptysBio Company Profile

(Get Free Report)

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.

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