Connor Clark & Lunn Investment Management Ltd. Takes Position in AnaptysBio, Inc. $ANAB

Key Points

• Connor Clark & Lunn Investment Management initiated a position in AnaptysBio by purchasing 141,026 shares worth approximately $9.5 million, representing about 0.48% of the company.
• Several other institutional investors also bought shares during the second quarter, including BlackRock, which acquired a stake valued at approximately $124.5 million.
• Analyst sentiment remains broadly positive, with 10 Buy, three Hold, and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $80 versus the stock’s reported $58 price.

Connor Clark & Lunn Investment Management Ltd. bought a new position in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 141,026 shares of the biotechnology company's stock, valued at approximately $9,519,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.48% of AnaptysBio as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Clear Harbor Asset Management LLC bought a new stake in AnaptysBio in the 2nd quarter worth $780,000. E Fund Management Co. Ltd. bought a new position in shares of AnaptysBio during the second quarter valued at about $208,000. Latash Investments LLC bought a new position in shares of AnaptysBio during the second quarter valued at about $297,000. DCF Advisers LLC purchased a new stake in shares of AnaptysBio during the second quarter worth about $615,000. Finally, BlackRock Inc. purchased a new stake in shares of AnaptysBio during the second quarter worth about $124,473,000.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Leerink Partners set a $90.00 price target on AnaptysBio in a report on Friday, May 15th. UBS Group increased their price objective on AnaptysBio from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of AnaptysBio in a research report on Friday, August 7th. TD Cowen reduced their target price on AnaptysBio from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Zacks Research downgraded AnaptysBio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $80.00.

AnaptysBio Price Performance

Shares of NASDAQ ANAB opened at $58.00 on Thursday. AnaptysBio, Inc. has a 1 year low of $11.40 and a 1 year high of $72.36. The stock has a market capitalization of $1.72 billion, a P/E ratio of -53.70 and a beta of 0.72. The company's 50-day moving average is $58.58 and its 200 day moving average is $59.02.

About AnaptysBio

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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