Woodline Partners LP Buys 305,950 Shares of AnaptysBio, Inc. $ANAB

Key Points

• Woodline Partners LP increased its holdings in AnaptysBio, Inc. by 63.1% to 791,023 shares, valued at approximately $14.7 million, as disclosed in their filing with the SEC.
• Multiple analysts upgraded their ratings for AnaptysBio, with price targets increasing significantly, including a hike from $22.00 to $38.00 by HC Wainwright.
• AnaptysBio reported better than expected earnings, with a revenue of $22.26 million for the quarter, surpassing analysts' estimates of $11.55 million.

Woodline Partners LP boosted its position in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 63.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 791,023 shares of the biotechnology company's stock after purchasing an additional 305,950 shares during the period. Woodline Partners LP owned 2.69% of AnaptysBio worth $14,705,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. US Bancorp DE boosted its position in shares of AnaptysBio by 126.5% in the first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock worth $33,000 after buying an additional 979 shares during the period. Farther Finance Advisors LLC boosted its position in AnaptysBio by 9,778.9% during the 1st quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company's stock worth $35,000 after acquiring an additional 1,858 shares during the period. Tower Research Capital LLC TRC grew its stake in AnaptysBio by 131.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock valued at $36,000 after acquiring an additional 1,531 shares in the last quarter. GAMMA Investing LLC purchased a new position in AnaptysBio during the 1st quarter valued at about $113,000. Finally, Brooklyn Investment Group increased its holdings in shares of AnaptysBio by 1,779.9% in the 1st quarter. Brooklyn Investment Group now owns 6,373 shares of the biotechnology company's stock valued at $118,000 after purchasing an additional 6,034 shares during the period.

Insiders Place Their Bets

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

AnaptysBio Trading Up 0.9%

AnaptysBio stock traded up $0.20 during trading hours on Friday, reaching $23.40. 472,652 shares of the company were exchanged, compared to its average volume of 405,268. AnaptysBio, Inc. has a 12 month low of $12.21 and a 12 month high of $40.70. The stock has a 50-day moving average of $23.07 and a 200 day moving average of $21.10. The firm has a market cap of $655.20 million, a price-to-earnings ratio of -5.22 and a beta of -0.19.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ANAB. Wedbush lifted their target price on shares of AnaptysBio from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Guggenheim reiterated a "buy" rating and set a $90.00 price objective (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 research report on Thursday, July 24th. UBS Group reaffirmed a "neutral" rating and issued a $20.00 target price (up from $18.00) on shares of AnaptysBio in a research report on Tuesday, August 12th. Finally, HC Wainwright raised AnaptysBio from a "neutral" rating to a "buy" rating and raised their price target for the stock from $22.00 to $38.00 in a research note on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.13.

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.