AnaptysBio, Inc. $ANAB Shares Sold by Granahan Investment Management LLC

Key Points

• Granahan Investment Management cut its AnaptysBio stake by 47.4% in the first quarter, selling 59,673 shares and leaving it with 66,182 shares valued at about $3.67 million.
• Other hedge funds and institutions have been active in the stock as well, with several notably increasing their positions, including Affinity Asset Advisors, JPMorgan Chase, and Voloridge Investment Management.
• AnaptysBio reported a wider-than-expected quarterly loss of ($1.84) per share despite revenue topping estimates, while analysts currently rate the stock a Moderate Buy with a consensus price target of $82.

Granahan Investment Management LLC reduced its holdings in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 47.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,182 shares of the biotechnology company's stock after selling 59,673 shares during the quarter. Granahan Investment Management LLC owned 0.23% of AnaptysBio worth $3,670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Affinity Asset Advisors LLC increased its stake in shares of AnaptysBio by 111.4% in the first quarter. Affinity Asset Advisors LLC now owns 940,000 shares of the biotechnology company's stock worth $52,132,000 after buying an additional 495,308 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in AnaptysBio by 1,631.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company's stock worth $5,497,000 after acquiring an additional 233,325 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in AnaptysBio by 2,358.3% during the 4th quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company's stock worth $11,109,000 after acquiring an additional 219,816 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of AnaptysBio by 145.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 370,458 shares of the biotechnology company's stock worth $11,343,000 after purchasing an additional 219,648 shares during the last quarter. Finally, Soleus Capital Management L.P. increased its position in shares of AnaptysBio by 214.6% in the 2nd quarter. Soleus Capital Management L.P. now owns 321,040 shares of the biotechnology company's stock worth $7,127,000 after purchasing an additional 218,988 shares during the last quarter.

AnaptysBio Stock Performance

AnaptysBio stock opened at $54.15 on Friday. The firm's 50-day moving average is $58.38 and its 200-day moving average is $57.47. AnaptysBio, Inc. has a 1 year low of $11.40 and a 1 year high of $72.36. The company has a market cap of $1.60 billion, a P/E ratio of -50.14 and a beta of 0.68.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) EPS for the quarter, missing the consensus estimate of ($0.64) by ($1.20). The firm had revenue of $25.56 million for the quarter, compared to analyst estimates of $18.86 million. As a group, sell-side analysts predict that AnaptysBio, Inc. will post -1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ANAB. Wall Street Zen cut shares of AnaptysBio from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 16th. Barclays boosted their price objective on AnaptysBio from $63.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. Leerink Partners set a $90.00 target price on AnaptysBio in a report on Friday, May 15th. Weiss Ratings lowered AnaptysBio from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, May 13th. Finally, HC Wainwright started coverage on AnaptysBio in a report on Wednesday, June 10th. They issued a "buy" rating and a $95.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $82.00.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company's technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company's pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.

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