Assenagon Asset Management S.A. Has $4.51 Million Stock Position in AnaptysBio, Inc. (NASDAQ:ANAB)

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

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

AnaptysBio Stock Performance

Shares of NASDAQ:ANAB traded down $0.43 during midday trading on Thursday, reaching $23.39. 419,414 shares of the company's stock were exchanged, compared to its average volume of 638,262. The company's 50 day simple moving average is $21.03 and its two-hundred day simple moving average is $18.35. AnaptysBio, Inc. has a 12 month low of $12.21 and a 12 month high of $41.31. The firm has a market capitalization of $687.20 million, a PE ratio of -4.82 and a beta of -0.26.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The biotechnology company reported ($1.28) EPS for the quarter, topping analysts' consensus estimates of ($1.30) by $0.02. The firm had revenue of $27.77 million during the quarter, compared to analysts' expectations of $15.27 million. AnaptysBio had a negative net margin of 125.70% and a negative return on equity of 282.47%. On average, research analysts anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

ANAB has been the topic of several recent analyst reports. Johnson Rice reaffirmed a "buy" rating on shares of AnaptysBio in a research report on Wednesday, March 26th. Guggenheim restated a "buy" rating and issued a $90.00 price objective (up previously from $54.00) on shares of AnaptysBio in a research note on Wednesday, May 28th. HC Wainwright upgraded shares of AnaptysBio from a "neutral" rating to a "buy" rating and upped their target price for the company from $22.00 to $38.00 in a research note on Wednesday, June 4th. Wedbush reissued an "outperform" rating and issued a $40.00 price target on shares of AnaptysBio in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AnaptysBio from $36.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AnaptysBio has an average rating of "Moderate Buy" and an average target price of $42.38.

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.