Fairmount Funds Management LLC Acquires New Stake in AnaptysBio, Inc. (NASDAQ:ANAB)

Fairmount Funds Management LLC bought a new stake in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,816,466 shares of the biotechnology company's stock, valued at approximately $24,050,000. AnaptysBio makes up 2.4% of Fairmount Funds Management LLC's portfolio, making the stock its 14th largest holding. Fairmount Funds Management LLC owned about 5.97% of AnaptysBio as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC grew its position in AnaptysBio by 117.4% in the third quarter. Barclays PLC now owns 44,300 shares of the biotechnology company's stock valued at $1,486,000 after purchasing an additional 23,926 shares in the last quarter. JPMorgan Chase & Co. grew its stake in AnaptysBio by 191.4% in the third quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company's stock valued at $1,130,000 after purchasing an additional 22,164 shares in the last quarter. SG Americas Securities LLC increased its holdings in AnaptysBio by 35.0% during the fourth quarter. SG Americas Securities LLC now owns 16,307 shares of the biotechnology company's stock worth $216,000 after buying an additional 4,231 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in AnaptysBio by 11.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,452 shares of the biotechnology company's stock valued at $85,000 after purchasing an additional 644 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of AnaptysBio by 1.6% in the fourth quarter. Jennison Associates LLC now owns 269,131 shares of the biotechnology company's stock valued at $3,563,000 after buying an additional 4,242 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ANAB shares. Wolfe Research began coverage on AnaptysBio in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $25.00 price target for the company. Wedbush reissued an "outperform" rating and issued a $40.00 target price on shares of AnaptysBio in a research report on Thursday, May 1st. Guggenheim raised their price target on shares of AnaptysBio from $52.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price objective on shares of AnaptysBio from $36.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $22.00 target price on shares of AnaptysBio in a report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $35.88.

AnaptysBio Stock Up 0.1 %

Shares of ANAB stock traded up $0.01 during trading hours on Friday, reaching $19.59. The company's stock had a trading volume of 421,018 shares, compared to its average volume of 597,975. AnaptysBio, Inc. has a fifty-two week low of $12.21 and a fifty-two week high of $41.31. The firm's 50 day simple moving average is $18.63 and its 200-day simple moving average is $18.59. The company has a market capitalization of $579.35 million, a price-to-earnings ratio of -3.22 and a beta of -0.20.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.30) by $0.02. The firm had revenue of $27.77 million for the quarter, compared to analysts' expectations of $15.27 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. Sell-side analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio declared that its Board of Directors has initiated a stock repurchase program on Monday, March 24th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the biotechnology company to purchase up to 13.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

AnaptysBio Company Profile

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.