AnaptysBio (NASDAQ:ANAB) Shares Down 5.7% – Here’s What Happened

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) were down 5.7% during trading on Tuesday . The stock traded as low as $19.80 and last traded at $20.02. Approximately 174,378 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,165,128 shares. The stock had previously closed at $21.22.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price target on AnaptysBio from $66.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company raised their price target on AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Wedbush reiterated an “outperform” rating and set a $40.00 price objective on shares of AnaptysBio in a report on Wednesday, February 12th. Wolfe Research initiated coverage on shares of AnaptysBio in a report on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 target price for the company. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $19.00 price target on shares of AnaptysBio in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.45.

AnaptysBio Price Performance

The firm has a 50-day simple moving average of $15.71 and a 200 day simple moving average of $25.54. The company has a market capitalization of $601.91 million and a PE ratio of -3.25.

Insider Activity

In other news, Director Ecor1 Capital, Llc bought 6,646 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was acquired at an average cost of $12.95 per share, for a total transaction of $86,065.70. Following the completion of the purchase, the director now owns 7,880,094 shares of the company’s stock, valued at $102,047,217.30. This trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fairmount Funds Management LLC purchased a new position in AnaptysBio in the 4th quarter valued at about $24,050,000. Boxer Capital Management LLC bought a new position in shares of AnaptysBio during the fourth quarter worth about $17,212,000. Sanofi acquired a new position in shares of AnaptysBio in the 4th quarter worth approximately $10,882,000. FMR LLC boosted its holdings in AnaptysBio by 15.3% in the third quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock worth $110,857,000 after purchasing an additional 438,557 shares during the period. Finally, Soleus Capital Management L.P. acquired a new position in shares of AnaptysBio in the 4th quarter valued at about $5,481,000.

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.