Assenagon Asset Management S.A. Sells 225,526 Shares of AnaptysBio, Inc. $ANAB

Key Points

• Assenagon Asset Management S.A. drastically reduced its stake in AnaptysBio, selling 225,526 shares and decreasing its ownership to approximately 0.06% of the company.
• Multiple institutional investors have increased their holdings in AnaptysBio, including First Light Asset Management LLC, which raised its stake by 433.3%.
• AnaptysBio's stock saw a trading increase of 7.0% recently, with a current market cap of $660.24 million and earnings reported that exceeded analyst expectations.

Assenagon Asset Management S.A. decreased its stake in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 93.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,959 shares of the biotechnology company's stock after selling 225,526 shares during the period. Assenagon Asset Management S.A. owned about 0.06% of AnaptysBio worth $376,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. First Light Asset Management LLC increased its holdings in shares of AnaptysBio by 433.3% in the 1st quarter. First Light Asset Management LLC now owns 4,633,602 shares of the biotechnology company's stock worth $86,139,000 after buying an additional 3,764,720 shares during the last quarter. Palo Alto Investors LP increased its holdings in shares of AnaptysBio by 20.9% in the 1st quarter. Palo Alto Investors LP now owns 1,020,713 shares of the biotechnology company's stock worth $18,975,000 after buying an additional 176,742 shares during the last quarter. Woodline Partners LP increased its holdings in shares of AnaptysBio by 63.1% in the 1st quarter. Woodline Partners LP now owns 791,023 shares of the biotechnology company's stock worth $14,705,000 after buying an additional 305,950 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of AnaptysBio by 21.5% in the 1st quarter. Victory Capital Management Inc. now owns 406,430 shares of the biotechnology company's stock valued at $7,556,000 after purchasing an additional 71,980 shares in the last quarter. Finally, 683 Capital Management LLC purchased a new stake in shares of AnaptysBio in the 1st quarter valued at $3,637,000.

Insider Activity at AnaptysBio

In other news, Director Hollings Renton sold 20,925 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $23.57, for a total value of $493,202.25. Following the completion of the sale, the director directly owned 4,965 shares of the company's stock, valued at approximately $117,025.05. This trade represents a 80.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 33.50% of the company's stock.

AnaptysBio Trading Up 7.0%

NASDAQ:ANAB opened at $23.58 on Monday. The company has a 50-day moving average price of $22.12 and a 200-day moving average price of $21.45. AnaptysBio, Inc. has a 12 month low of $12.21 and a 12 month high of $36.54. The stock has a market cap of $660.24 million, a price-to-earnings ratio of -5.26 and a beta of -0.19.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biotechnology company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.50) by $0.16. AnaptysBio had a negative net margin of 107.66% and a negative return on equity of 366.98%. The firm had revenue of $22.26 million during the quarter, compared to analysts' expectations of $11.55 million. Equities analysts forecast that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

Analyst Ratings Changes

ANAB has been the subject of a number of research reports. UBS Group reaffirmed a "neutral" rating and issued a $20.00 price objective (up previously from $18.00) on shares of AnaptysBio in a research note on Tuesday, August 12th. Wedbush reaffirmed an "outperform" rating and issued a $45.00 price objective on shares of AnaptysBio in a research note on Tuesday, September 16th. HC Wainwright raised shares of AnaptysBio from a "neutral" rating to a "buy" rating and upped their price objective for the company from $22.00 to $38.00 in a research note on Wednesday, June 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of AnaptysBio from $42.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.13.

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.

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