Corton Capital Inc. Takes Position in AnaptysBio, Inc. (NASDAQ:ANAB)

Key Points

• Corton Capital Inc. acquired a new stake in AnaptysBio, Inc., purchasing 10,699 shares valued at approximately $199,000 in the first quarter.
• Analysts have upgraded AnaptysBio's stock ratings, with HC Wainwright raising its target price from $22 to $38 and JPMorgan Chase increasing its price objective from $42 to $80.
• Insider activity includes Director Hollings Renton selling 20,925 shares, which decreased his ownership in the company by 80.82%, leaving him with 4,965 shares valued at about $117,025.

Corton Capital Inc. acquired a new stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,699 shares of the biotechnology company's stock, valued at approximately $199,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ bought a new position in shares of AnaptysBio in the first quarter worth approximately $623,000. Victory Capital Management Inc. lifted its stake in shares of AnaptysBio by 21.5% in the first quarter. Victory Capital Management Inc. now owns 406,430 shares of the biotechnology company's stock worth $7,556,000 after buying an additional 71,980 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of AnaptysBio by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 61,207 shares of the biotechnology company's stock worth $1,138,000 after buying an additional 4,038 shares in the last quarter. Moody Aldrich Partners LLC bought a new position in shares of AnaptysBio in the first quarter worth approximately $1,547,000. Finally, HighMark Wealth Management LLC bought a new position in shares of AnaptysBio in the first quarter worth approximately $1,710,000.

Analyst Upgrades and Downgrades

ANAB has been the topic of several analyst reports. HC Wainwright upgraded shares of AnaptysBio from a "neutral" rating to a "buy" rating and upped their target price for the stock from $22.00 to $38.00 in a research note on Wednesday, June 4th. Guggenheim restated a "buy" rating and set a $90.00 price objective (up previously from $54.00) on shares of AnaptysBio in a research report on Wednesday, May 28th. Wedbush restated 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. increased their price objective on shares of AnaptysBio from $42.00 to $80.00 and gave the company an "overweight" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AnaptysBio currently has a consensus rating of "Moderate Buy" and an average target price of $47.13.

Insiders Place Their Bets

In related news, Director Hollings Renton sold 20,925 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $23.57, for a total transaction of $493,202.25. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 33.50% of the company's stock.

AnaptysBio Trading Down 0.2%

ANAB opened at $26.94 on Friday. AnaptysBio, Inc. has a 1-year low of $12.21 and a 1-year high of $41.31. The company has a market capitalization of $791.50 million, a PE ratio of -5.55 and a beta of -0.27. The firm's 50 day simple moving average is $23.62 and its two-hundred day simple moving average is $19.88.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share for the quarter, topping the consensus estimate of ($1.30) by $0.02. AnaptysBio had a negative net margin of 125.70% and a negative return on equity of 282.47%. The business had revenue of $27.77 million for the quarter, compared to the consensus estimate of $15.27 million. Equities analysts forecast that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio Company 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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