AnaptysBio (NASDAQ:ANAB) Shares Down 7.3% – Should You Sell?

AnaptysBio, Inc. (NASDAQ:ANAB) shares fell 7.3% on Thursday . The stock traded as low as $46.90 and last traded at $46.58. 276,459 shares changed hands during trading, a decline of 56% from the average session volume of 626,801 shares. The stock had previously closed at $50.26.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Guggenheim reiterated a “buy” rating on shares of AnaptysBio in a research note on Thursday, December 18th. Stifel Nicolaus dropped their price objective on AnaptysBio from $80.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Wedbush reissued an “outperform” rating and issued a $50.00 target price on shares of AnaptysBio in a research report on Monday, November 24th. Barclays lowered their target price on AnaptysBio from $70.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Finally, HC Wainwright cut their price target on AnaptysBio from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AnaptysBio currently has an average rating of “Moderate Buy” and an average target price of $60.40.

AnaptysBio Stock Down 1.4%

The business’s 50-day moving average price is $43.71 and its 200 day moving average price is $32.32. The company has a market capitalization of $1.26 billion, a P/E ratio of -16.20 and a beta of 0.32.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $1.58. AnaptysBio had a negative net margin of 49.94% and a negative return on equity of 1,101.24%. The business had revenue of $76.32 million for the quarter, compared to analyst estimates of $15.83 million. Analysts anticipate that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

AnaptysBio announced that its Board of Directors has initiated a share buyback program on Friday, November 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the biotechnology company to buy up to 9.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at AnaptysBio

In other news, Director Magda Marquet sold 11,000 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $48.23, for a total transaction of $530,530.00. Following the completion of the transaction, the director owned 9,930 shares of the company’s stock, valued at approximately $478,923.90. The trade was a 52.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric J. Loumeau sold 2,210 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $44.71, for a total transaction of $98,809.10. Following the completion of the transaction, the insider owned 12,835 shares in the company, valued at approximately $573,852.85. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 146,280 shares of company stock valued at $6,714,939 in the last ninety days. 33.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AnaptysBio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its position in shares of AnaptysBio by 54.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 473 shares in the last quarter. Bessemer Group Inc. increased its stake in AnaptysBio by 950.0% in the third quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 1,292 shares during the last quarter. Tower Research Capital LLC TRC raised its position in AnaptysBio by 175.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,377 shares in the last quarter. Osaic Holdings Inc. lifted its stake in AnaptysBio by 11,630.0% during the second quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 2,326 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of AnaptysBio by 131,540.0% in the 3rd quarter. Covestor Ltd now owns 6,582 shares of the biotechnology company’s stock worth $201,000 after purchasing an additional 6,577 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.