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

AnaptysBio, Inc. (NASDAQ:ANAB) shares traded down 6.2% during mid-day trading on Monday . The stock traded as low as $54.87 and last traded at $54.4120. Approximately 130,067 shares traded hands during trading, a decline of 83% from the average session volume of 753,997 shares. The stock had previously closed at $58.00.

Analysts Set New Price Targets

A number of analysts have commented on ANAB shares. Barclays raised their price objective on AnaptysBio from $63.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Weiss Ratings cut AnaptysBio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Piper Sandler cut their target price on AnaptysBio from $95.00 to $93.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. Truist Financial raised AnaptysBio to a “hold” rating in a research report on Wednesday, March 25th. Finally, Wall Street Zen downgraded shares of AnaptysBio from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, AnaptysBio currently has an average rating of “Moderate Buy” and a consensus target price of $81.82.

AnaptysBio Stock Down 6.2%

The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -50.22 and a beta of 0.68. The business has a fifty day simple moving average of $59.50 and a two-hundred day simple moving average of $57.35.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results 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 during the quarter, compared to analyst estimates of $18.86 million. As a group, equities analysts predict that AnaptysBio, Inc. will post -1.35 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On AnaptysBio

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tema ETFs LLC increased its position in AnaptysBio by 0.6% in the 2nd quarter. Tema ETFs LLC now owns 31,270 shares of the biotechnology company’s stock valued at $2,111,000 after acquiring an additional 201 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of AnaptysBio by 1.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 15,101 shares of the biotechnology company’s stock worth $732,000 after purchasing an additional 225 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of AnaptysBio by 24.3% during the fourth 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 last quarter. Larson Financial Group LLC grew its stake in shares of AnaptysBio by 21.2% during the fourth quarter. Larson Financial Group LLC now owns 1,624 shares of the biotechnology company’s stock valued at $79,000 after purchasing an additional 284 shares during the last quarter. Finally, Susquehanna Portfolio Strategies LLC grew its stake in shares of AnaptysBio by 1.4% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 35,948 shares of the biotechnology company’s stock valued at $1,743,000 after purchasing an additional 500 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.