AnaptysBio, Inc. $ANAB Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan cut its stake in AnaptysBio by 94.0% in Q3, selling 232,773 shares and leaving 14,852 shares worth about $455,000.
• AnaptysBio beat Q consensus with $1.58 EPS (vs. $0.89) and $108.25M revenue (vs. $87.09M) but still shows negative ROE and net margin, and its board approved a stock repurchase plan (article-reported size appears erroneous).
• Insiders sold ~59,324 shares (~$3.32M) over the last quarter—including CEO sales—while corporate insiders own 33.5%, and analysts largely rate the stock a Moderate Buy with a consensus target of $80.10.

JPMorgan Chase & Co. lessened its stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 94.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,852 shares of the biotechnology company's stock after selling 232,773 shares during the quarter. JPMorgan Chase & Co. owned about 0.05% of AnaptysBio worth $455,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ANAB. AQR Capital Management LLC grew its holdings in AnaptysBio by 153.3% during the 1st quarter. AQR Capital Management LLC now owns 30,011 shares of the biotechnology company's stock valued at $558,000 after buying an additional 18,165 shares during the last quarter. Creative Planning grew its holdings in AnaptysBio by 26.9% during the 2nd quarter. Creative Planning now owns 16,854 shares of the biotechnology company's stock valued at $374,000 after buying an additional 3,571 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in AnaptysBio during the 2nd quarter valued at $528,000. Arrowstreet Capital Limited Partnership acquired a new stake in AnaptysBio during the 2nd quarter valued at $3,348,000. Finally, Invesco Ltd. grew its holdings in AnaptysBio by 289.8% during the 2nd quarter. Invesco Ltd. now owns 83,174 shares of the biotechnology company's stock valued at $1,846,000 after buying an additional 61,838 shares during the last quarter.

AnaptysBio Trading Down 2.0%

Shares of ANAB opened at $68.73 on Tuesday. The firm has a market capitalization of $1.98 billion, a P/E ratio of -132.17 and a beta of 0.40. The stock's fifty day simple moving average is $58.43 and its 200 day simple moving average is $46.93. AnaptysBio, Inc. has a twelve month low of $16.82 and a twelve month high of $73.30.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.69. The business had revenue of $108.25 million for the quarter, compared to analyst estimates of $87.09 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%. Sell-side analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio declared that its board has approved a stock repurchase plan on Friday, March 27th that authorizes the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization authorizes the biotechnology company to repurchase up to 5,352,316.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at AnaptysBio

In related news, insider Eric J. Loumeau sold 10,000 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.00, for a total value of $540,000.00. Following the transaction, the insider directly owned 12,835 shares of the company's stock, valued at approximately $693,090. This trade represents a 43.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel Faga sold 17,679 shares of the stock in a transaction on Friday, March 27th. The stock was sold at an average price of $61.61, for a total value of $1,089,203.19. Following the completion of the transaction, the chief executive officer directly owned 495,965 shares in the company, valued at $30,556,403.65. This trade represents a 3.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 59,324 shares of company stock valued at $3,318,124. Corporate insiders own 33.50% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on ANAB shares. Guggenheim reiterated a "buy" rating on shares of AnaptysBio in a report on Thursday, December 18th. Wedbush increased their target price on AnaptysBio from $60.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, March 12th. Stifel Nicolaus increased their target price on AnaptysBio from $56.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Wall Street Zen cut AnaptysBio from a "strong-buy" rating to a "buy" rating in a report on Friday, January 23rd. Finally, Piper Sandler increased their price target on AnaptysBio from $67.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 31st. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.10.

AnaptysBio 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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