Corton Capital Inc. Buys Shares of 10,699 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. bought a new stake in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,699 shares of the biotechnology company's stock, valued at approximately $199,000.

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

AnaptysBio Stock Down 1.5%

Shares of ANAB traded down $0.37 during trading hours on Thursday, hitting $24.62. 340,985 shares of the company were exchanged, compared to its average volume of 789,997. The company has a market cap of $723.19 million, a price-to-earnings ratio of -5.07 and a beta of -0.27. AnaptysBio, Inc. has a fifty-two week low of $12.21 and a fifty-two week high of $41.31. The firm's fifty day moving average is $23.92 and its 200 day moving average is $20.08.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Analysts anticipate that AnaptysBio, Inc. will post -6.08 EPS for the current year.

Insider Buying and Selling at AnaptysBio

In related news, Director Hollings Renton sold 20,925 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $23.57, for a total transaction of $493,202.25. Following the completion of the sale, the director directly owned 4,965 shares in the company, valued at $117,025.05. This represents a 80.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 33.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ANAB has been the topic of a number of recent analyst reports. HC Wainwright raised AnaptysBio from a "neutral" rating to a "buy" rating and boosted their target price 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 report on Wednesday, May 28th. Wedbush reaffirmed an "outperform" rating and issued a $40.00 price objective on shares of AnaptysBio in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. upped their price objective on AnaptysBio from $42.00 to $80.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $47.13.

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.