AnaptysBio (NASDAQ:ANAB) Shares Gap Up After Earnings Beat

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $19.88, but opened at $22.21. AnaptysBio shares last traded at $21.23, with a volume of 41,187 shares changing hands.

The biotechnology company reported ($1.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.72) by $0.58. AnaptysBio had a negative net margin of 558.25% and a negative return on equity of 255.68%. The business had revenue of $30.02 million during the quarter, compared to the consensus estimate of $7.92 million.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ANAB shares. JPMorgan Chase & Co. increased their price target on AnaptysBio from $69.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Truist Financial raised their target price on AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. UBS Group upped their price target on AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Guggenheim lifted their price objective on shares of AnaptysBio from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $42.00 target price on shares of AnaptysBio in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.45.

Insider Activity

In other AnaptysBio news, insider Paul F. Lizzul sold 1,500 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.67, for a total transaction of $58,005.00. Following the completion of the transaction, the insider now owns 15,398 shares in the company, valued at approximately $595,440.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AnaptysBio news, insider Paul F. Lizzul sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $38.67, for a total transaction of $58,005.00. Following the completion of the transaction, the insider now owns 15,398 shares of the company’s stock, valued at $595,440.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric J. Loumeau sold 8,720 shares of AnaptysBio stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $39.82, for a total transaction of $347,230.40. Following the completion of the sale, the insider now owns 7,020 shares in the company, valued at $279,536.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,440 shares of company stock worth $892,936 over the last quarter. 33.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AnaptysBio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of AnaptysBio during the 1st quarter worth approximately $38,000. Values First Advisors Inc. bought a new stake in AnaptysBio during the third quarter worth $49,000. nVerses Capital LLC lifted its stake in AnaptysBio by 700.0% in the third quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 1,400 shares during the last quarter. Headlands Technologies LLC grew its position in shares of AnaptysBio by 444.8% in the 2nd quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 2,900 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of AnaptysBio by 81.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock valued at $195,000 after acquiring an additional 2,600 shares during the period.

AnaptysBio Trading Up 11.7 %

The firm’s 50 day moving average price is $33.30 and its two-hundred day moving average price is $29.89. The company has a market capitalization of $609.31 million, a price-to-earnings ratio of -3.50 and a beta of -0.24.

About AnaptysBio

AnaptysBio, Inc, a clinical-stage biotechnology company, focuses in delivering immunology therapeutics. Its products include Rosnilimab, an IgG1 antibody that targets PD-1+ T cells, resulting in their agonism or depletion, broadly impacting pathogenic drivers of autoimmune and inflammatory diseases; and ANB032, a non-depleting antibody that binds to the BTLA checkpoint receptor and inhibits activated T cell proliferation; ANB033, a novel anti-CD122 antagonist antibody that targets the shared common beta subunit of the receptors for IL-15 and IL-2; ANB101, a BDCA2 modulator antibody that specifically targets plasmacytoid dendritic cells (pDCs); and Imsidolimab, an antibody that inhibits the interleukin-36 receptor, which is in the Phase 3 development for the treatment of generalized pustular psoriasis.