Assenagon Asset Management S.A. Sells 89,273 Shares of AnaptysBio, Inc. (NASDAQ:ANAB)

Assenagon Asset Management S.A. decreased its holdings in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 242,485 shares of the biotechnology company's stock after selling 89,273 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.79% of AnaptysBio worth $4,508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in AnaptysBio by 9,778.9% in the first quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company's stock valued at $35,000 after buying an additional 1,858 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of AnaptysBio by 131.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock valued at $36,000 after purchasing an additional 1,531 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of AnaptysBio during the 4th quarter valued at about $40,000. AlphaQuest LLC grew its stake in AnaptysBio by 1,891.5% during the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock worth $59,000 after purchasing an additional 4,237 shares during the period. Finally, Virtus ETF Advisers LLC grew its stake in AnaptysBio by 24.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company's stock worth $63,000 after purchasing an additional 936 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ANAB. HC Wainwright upgraded AnaptysBio from a "neutral" rating to a "buy" rating and increased their price target for the stock from $22.00 to $38.00 in a report on Wednesday, June 4th. Guggenheim reissued a "buy" rating and set a $90.00 target price (up from $54.00) on shares of AnaptysBio in a research note on Wednesday, May 28th. Johnson Rice reaffirmed a "buy" rating on shares of AnaptysBio in a research note on Wednesday, March 26th. Wedbush reissued an "outperform" rating and set a $40.00 price objective on shares of AnaptysBio in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. raised their target price on AnaptysBio from $36.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.38.

AnaptysBio Trading Down 0.3%

Shares of ANAB traded down $0.08 on Tuesday, reaching $23.82. The company's stock had a trading volume of 525,264 shares, compared to its average volume of 635,880. AnaptysBio, Inc. has a twelve month low of $12.21 and a twelve month high of $41.31. The firm has a fifty day moving average of $20.76 and a 200-day moving average of $18.28.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share for the quarter, beating analysts' consensus estimates of ($1.30) by $0.02. The company had revenue of $27.77 million for the quarter, compared to analyst estimates of $15.27 million. AnaptysBio had a negative return on equity of 282.47% and a negative net margin of 125.70%. As a group, research analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio announced that its board has initiated a stock buyback program on Monday, March 24th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the biotechnology company to buy up to 13.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

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.