BNP Paribas Financial Markets Reduces Position in AnaptysBio, Inc. (NASDAQ:ANAB)

BNP Paribas Financial Markets cut its stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 65.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,126 shares of the biotechnology company's stock after selling 42,983 shares during the period. BNP Paribas Financial Markets owned approximately 0.08% of AnaptysBio worth $306,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ANAB. Boxer Capital Management LLC purchased a new position in shares of AnaptysBio during the 4th quarter worth approximately $17,212,000. Vanguard Group Inc. raised its stake in shares of AnaptysBio by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company's stock worth $24,411,000 after buying an additional 143,584 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of AnaptysBio by 41.0% in the 4th quarter. Victory Capital Management Inc. now owns 334,450 shares of the biotechnology company's stock worth $4,428,000 after acquiring an additional 97,200 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of AnaptysBio by 240.6% in the 4th quarter. JPMorgan Chase & Co. now owns 114,939 shares of the biotechnology company's stock worth $1,522,000 after acquiring an additional 81,195 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of AnaptysBio in the 4th quarter worth approximately $593,000.

AnaptysBio Price Performance

NASDAQ:ANAB traded up $1.66 during trading hours on Thursday, reaching $22.56. 892,851 shares of the company traded hands, compared to its average volume of 610,714. The firm's 50-day moving average is $19.57 and its 200-day moving average is $18.26. The stock has a market cap of $662.81 million, a P/E ratio of -3.71 and a beta of -0.20. AnaptysBio, Inc. has a 1-year low of $12.21 and a 1-year high of $41.31.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.30) by $0.02. The business had revenue of $27.77 million for the quarter, compared to analysts' expectations of $15.27 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. As a group, research analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio declared that its Board of Directors has authorized a stock repurchase program on Monday, March 24th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the biotechnology company to purchase up to 13.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ANAB. HC Wainwright restated a "neutral" rating and issued a $22.00 price target on shares of AnaptysBio in a report on Tuesday, March 4th. Wells Fargo & Company upped their price target on AnaptysBio from $40.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Wolfe Research began coverage on AnaptysBio in a report on Tuesday, February 4th. They issued an "outperform" rating and a $25.00 price target on the stock. JPMorgan Chase & Co. upped their price target on AnaptysBio from $36.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Finally, Johnson Rice restated a "buy" rating on shares of AnaptysBio in a report on Wednesday, March 26th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $40.38.

AnaptysBio 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.