Charles Schwab Investment Management Inc. Trims Stake in AnaptysBio, Inc. $ANAB

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in AnaptysBio by 7.6%, selling 12,698 shares in the first quarter, and now holds 153,356 shares worth approximately $2.85 million.
• Wall Street analysts have shown optimism for AnaptysBio, with several firms raising their target prices; Guggenheim set a new target price of $90.00, while JPMorgan Chase & Co. increased theirs to $80.00.
• Despite posting a negative earnings per share of ($1.34), AnaptysBio reported $22.26 million in revenue for the last quarter, significantly exceeding analyst estimates of $11.55 million.

Charles Schwab Investment Management Inc. cut its stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 7.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 153,356 shares of the biotechnology company's stock after selling 12,698 shares during the period. Charles Schwab Investment Management Inc. owned about 0.52% of AnaptysBio worth $2,851,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE raised its stake in AnaptysBio by 126.5% during the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock valued at $33,000 after buying an additional 979 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of AnaptysBio by 9,778.9% during the 1st quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company's stock valued at $35,000 after acquiring an additional 1,858 shares during the period. Tower Research Capital LLC TRC grew its position in shares of 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 during the period. GAMMA Investing LLC bought a new stake in shares of AnaptysBio during the 1st quarter valued at $113,000. Finally, Corton Capital Inc. bought a new stake in shares of AnaptysBio during the 1st quarter valued at $199,000.

AnaptysBio Stock Performance

Shares of ANAB traded up $1.10 during midday trading on Wednesday, hitting $21.71. 156,344 shares of the company traded hands, compared to its average volume of 740,948. The firm has a 50 day moving average of $23.20 and a 200-day moving average of $20.89. AnaptysBio, Inc. has a 52 week low of $12.21 and a 52 week high of $40.70. The stock has a market cap of $607.76 million, a price-to-earnings ratio of -4.85 and a beta of -0.19.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced 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. The firm had revenue of $22.26 million for the quarter, compared to analysts' expectations of $11.55 million. AnaptysBio had a negative net margin of 107.66% and a negative return on equity of 366.98%. Sell-side analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

Insider Activity

In other 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 sale, the director directly owned 4,965 shares in the company, valued at approximately $117,025.05. This represents a 80.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 33.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ANAB shares. Guggenheim reaffirmed a "buy" rating and issued a $90.00 target price (up previously from $54.00) on shares of AnaptysBio in a report on Wednesday, May 28th. JPMorgan Chase & Co. upped their target price on shares of AnaptysBio from $42.00 to $80.00 and gave the stock 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 upped their target price for the stock from $22.00 to $38.00 in a report on Wednesday, June 4th. UBS Group reaffirmed a "neutral" rating and issued a $20.00 target price (up previously from $18.00) on shares of AnaptysBio in a report on Tuesday, August 12th. Finally, Wedbush upped their target price on shares of AnaptysBio from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. One 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's stock. According to MarketBeat.com, AnaptysBio currently has an average rating of "Moderate Buy" and an average price target of $46.13.

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.