Cresset Asset Management LLC Invests $272,000 in AnaptysBio, Inc. $ANAB

Key Points

• Cresset Asset Management LLC acquired a new stake in AnaptysBio, purchasing 14,613 shares valued at approximately $272,000.
• Other significant investments in AnaptysBio were made recently, including Fairmount Funds Management LLC with $24 million, and Boxer Capital Management LLC with $17 million.
• Analysts have issued varying price targets for AnaptysBio, with Guggenheim setting a target price of $90.00, an increase from a prior target of $54.00.

Cresset Asset Management LLC acquired a new stake in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 14,613 shares of the biotechnology company's stock, valued at approximately $272,000.

Other hedge funds also recently modified their holdings of the company. HighMark Wealth Management LLC bought a new position in shares of AnaptysBio in the 1st quarter valued at about $1,710,000. Two Sigma Investments LP grew its holdings in shares of AnaptysBio by 66.4% in the 4th quarter. Two Sigma Investments LP now owns 352,034 shares of the biotechnology company's stock valued at $4,661,000 after acquiring an additional 140,457 shares in the last quarter. Moody Aldrich Partners LLC bought a new position in shares of AnaptysBio in the 1st quarter valued at about $1,547,000. BIT Capital GmbH bought a new position in shares of AnaptysBio in the 1st quarter valued at about $473,000. Finally, Sanofi bought a new position in shares of AnaptysBio in the 4th quarter valued at about $10,882,000.

Analyst Ratings Changes

ANAB has been the subject of several analyst reports. Guggenheim restated a "buy" rating and issued a $90.00 price objective (up previously from $54.00) on shares of AnaptysBio in a report on Wednesday, May 28th. UBS Group reiterated a "neutral" rating and issued a $20.00 target price (up from $18.00) on shares of AnaptysBio in a research note on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on shares of AnaptysBio from $42.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. HC Wainwright upgraded shares of AnaptysBio from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $22.00 to $38.00 in a research report on Wednesday, June 4th. Finally, Wedbush raised their price objective on shares of AnaptysBio from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.13.

Insider Transactions at AnaptysBio

In other AnaptysBio news, Director Hollings Renton sold 20,925 shares of the business'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 sale, the director owned 4,965 shares of the company's stock, valued at approximately $117,025.05. The trade was a 80.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 33.50% of the stock is owned by company insiders.

AnaptysBio Price Performance

NASDAQ:ANAB traded up $0.20 during mid-day trading on Friday, reaching $20.33. The stock had a trading volume of 322,607 shares, compared to its average volume of 456,645. The stock has a 50-day simple moving average of $23.31 and a two-hundred day simple moving average of $20.89. The stock has a market capitalization of $569.18 million, a PE ratio of -4.54 and a beta of -0.20. AnaptysBio, Inc. has a 12 month low of $12.21 and a 12 month high of $40.70.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.50) by $0.16. The business had revenue of $22.26 million for the quarter, compared to analysts' expectations of $11.55 million. AnaptysBio had a negative net margin of 107.66% and a negative return on equity of 366.98%. Equities analysts expect that AnaptysBio, Inc. will post -6.08 EPS for the current year.

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.