683 Capital Management LLC Takes $3.64 Million Position in AnaptysBio, Inc. $ANAB

Key Points

• 683 Capital Management LLC made a new investment in AnaptysBio, Inc., purchasing approximately $3.64 million worth of shares, totaling 195,627 shares.
• Analyst ratings have shown significant increases, with JPMorgan boosting AnaptysBio's target price from $42.00 to $80.00 and several firms upgrading their ratings to "buy."
• Despite posting a negative earnings per share of ($1.34), AnaptysBio's revenue exceeded expectations, reporting $22.26 million in the latest quarter.

683 Capital Management LLC purchased a new stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 195,627 shares of the biotechnology company's stock, valued at approximately $3,637,000. 683 Capital Management LLC owned 0.67% of AnaptysBio as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ANAB. First Light Asset Management LLC increased its holdings in AnaptysBio by 433.3% during the first quarter. First Light Asset Management LLC now owns 4,633,602 shares of the biotechnology company's stock valued at $86,139,000 after buying an additional 3,764,720 shares during the last quarter. Palo Alto Investors LP increased its position in AnaptysBio by 20.9% during the first quarter. Palo Alto Investors LP now owns 1,020,713 shares of the biotechnology company's stock valued at $18,975,000 after acquiring an additional 176,742 shares during the last quarter. PDT Partners LLC bought a new stake in shares of AnaptysBio in the 1st quarter worth about $828,000. Caption Management LLC boosted its position in shares of AnaptysBio by 106.3% during the first quarter. Caption Management LLC now owns 23,376 shares of the biotechnology company's stock valued at $435,000 after buying an additional 394,634 shares during the period. Finally, Trexquant Investment LP grew its stake in shares of AnaptysBio by 152.9% during the first quarter. Trexquant Investment LP now owns 153,563 shares of the biotechnology company's stock valued at $2,855,000 after buying an additional 92,843 shares during the last quarter.

Insider Buying and Selling at AnaptysBio

In other news, Director Hollings Renton sold 20,925 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $23.57, for a total value of $493,202.25. Following the sale, the director directly owned 4,965 shares in the company, valued at approximately $117,025.05. This trade represents a 80.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 33.50% of the company's stock.

Analyst Ratings Changes

ANAB has been the subject of a number of research analyst reports. UBS Group reiterated a "neutral" rating and set a $20.00 price objective (up previously from $18.00) on shares of AnaptysBio in a report on Tuesday, August 12th. Wedbush increased their price objective on AnaptysBio from $40.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Guggenheim reiterated a "buy" rating and issued a $90.00 target price (up from $54.00) on shares of AnaptysBio in a report on Wednesday, May 28th. JPMorgan Chase & Co. lifted their price objective on AnaptysBio from $42.00 to $80.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, HC Wainwright upgraded AnaptysBio from a "neutral" rating to a "buy" rating and increased their price target for the company from $22.00 to $38.00 in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.13.

AnaptysBio Price Performance

Shares of NASDAQ:ANAB traded up $0.81 during midday trading on Friday, hitting $21.90. The company had a trading volume of 402,655 shares, compared to its average volume of 446,507. AnaptysBio, Inc. has a twelve month low of $12.21 and a twelve month high of $40.70. The stock has a market cap of $613.20 million, a price-to-earnings ratio of -4.89 and a beta of -0.19. The business's 50-day simple moving average is $23.13 and its 200-day simple moving average is $20.92.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.50) by $0.16. AnaptysBio had a negative return on equity of 366.98% and a negative net margin of 107.66%.The company had revenue of $22.26 million during the quarter, compared to analysts' expectations of $11.55 million. As a group, sell-side analysts forecast that AnaptysBio, Inc. will post -6.08 EPS for the current year.

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.