AnaptysBio, Inc. $ANAB Position Increased by Palo Alto Investors LP

Key Points

• Palo Alto Investors LP increased its holdings in AnaptysBio, Inc. by 20.9% during the 1st quarter, now owning over 1 million shares valued at approximately $18.9 million.
• Insider activity includes Director Hollings Renton selling 20,925 shares at an average price of $23.57, significantly reducing their stake by 80.82%.
• Analysts have raised target prices for AnaptysBio, with UBS Group increasing theirs to $20.00 and JPMorgan Chase boosting it to $80.00, indicating a generally positive outlook for the stock.

Palo Alto Investors LP lifted its stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 20.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,020,713 shares of the biotechnology company's stock after acquiring an additional 176,742 shares during the quarter. AnaptysBio makes up approximately 3.6% of Palo Alto Investors LP's holdings, making the stock its 10th biggest holding. Palo Alto Investors LP owned about 3.47% of AnaptysBio worth $18,975,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ANAB. Barclays PLC increased its position in shares of AnaptysBio by 88.6% during the fourth quarter. Barclays PLC now owns 83,567 shares of the biotechnology company's stock worth $1,107,000 after acquiring an additional 39,267 shares during the period. Tower Research Capital LLC TRC increased its position in shares of AnaptysBio by 131.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock worth $36,000 after acquiring an additional 1,531 shares during the period. Northern Trust Corp lifted its holdings in shares of AnaptysBio by 10.0% in the 4th quarter. Northern Trust Corp now owns 219,986 shares of the biotechnology company's stock worth $2,913,000 after buying an additional 20,073 shares during the period. Bridgefront Capital LLC bought a new position in shares of AnaptysBio during the 4th quarter worth $252,000. Finally, Deutsche Bank AG increased its stake in shares of AnaptysBio by 52.0% during the fourth quarter. Deutsche Bank AG now owns 17,867 shares of the biotechnology company's stock valued at $237,000 after buying an additional 6,113 shares during the period.

AnaptysBio Stock Up 3.8%

Shares of NASDAQ ANAB traded up $0.81 during trading hours on Friday, hitting $21.90. 402,655 shares of the stock were exchanged, compared to its average volume of 414,139. The company has a market cap of $613.20 million, a PE ratio of -4.89 and a beta of -0.19. The firm has a fifty day moving average price of $23.13 and a 200-day moving average price of $20.94. AnaptysBio, Inc. has a 12 month low of $12.21 and a 12 month high of $40.70.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The biotechnology company reported ($1.34) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $22.26 million during the quarter, compared to the consensus estimate of $11.55 million. As a group, equities analysts anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

Insider Buying and Selling at AnaptysBio

In related news, Director Hollings Renton sold 20,925 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $23.57, for a total transaction of $493,202.25. Following the transaction, the director directly owned 4,965 shares in the company, valued at $117,025.05. The trade was a 80.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 33.50% of the stock is owned by insiders.

Analyst Ratings Changes

ANAB has been the subject of several recent research reports. 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. HC Wainwright raised shares of AnaptysBio from a "neutral" rating to a "buy" rating and raised their target price for the company from $22.00 to $38.00 in a research report on Wednesday, June 4th. UBS Group reaffirmed a "neutral" rating and issued a $20.00 price target (up previously from $18.00) on shares of AnaptysBio in a research report on Tuesday, August 12th. Wedbush increased their price objective 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. Finally, Guggenheim reissued a "buy" rating and issued a $90.00 price objective (up previously from $54.00) on shares of AnaptysBio in a research note on Wednesday, May 28th. One investment 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 stock. According to data from MarketBeat.com, AnaptysBio currently has an average rating of "Moderate Buy" and a consensus target price 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.