Federated Hermes Inc. Lowers Stock Holdings in AnaptysBio, Inc. (NASDAQ:ANAB)

Key Points

• Federated Hermes Inc. reduced its stake in AnaptysBio, Inc. by 81.7%, now holding 8,274 shares worth approximately $154,000.
• Several hedge funds have made significant changes to their positions in AnaptysBio, with JPMorgan Chase & Co. increasing its holdings by 240.6% in the past quarter.
• AnaptysBio reported a loss of ($1.34) EPS last quarter, surpassing analysts' expectations, with revenue of $22.26 million compared to the forecast of $11.55 million.

Federated Hermes Inc. cut its holdings in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 81.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,274 shares of the biotechnology company's stock after selling 36,910 shares during the quarter. Federated Hermes Inc.'s holdings in AnaptysBio were worth $154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ANAB. Fairmount Funds Management LLC purchased a new position in AnaptysBio during the 4th quarter valued at about $24,050,000. Boxer Capital Management LLC purchased a new position in AnaptysBio during the 4th quarter valued at about $17,212,000. Sanofi purchased a new position in AnaptysBio during the 4th quarter valued at about $10,882,000. Soleus Capital Management L.P. purchased a new position in AnaptysBio during the 4th quarter valued at about $5,481,000. Finally, Vanguard Group Inc. boosted its holdings in AnaptysBio by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company's stock valued at $24,411,000 after acquiring an additional 143,584 shares during the period.

Analyst Upgrades and Downgrades

ANAB has been the subject of several recent research reports. UBS Group reiterated 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. Guggenheim reiterated a "buy" rating and issued a $90.00 price objective (up previously from $54.00) on shares of AnaptysBio in a research note on Wednesday, May 28th. HC Wainwright upgraded AnaptysBio from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $22.00 to $38.00 in a research note on Wednesday, June 4th. Wedbush lifted their price objective on AnaptysBio from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on AnaptysBio from $42.00 to $80.00 and gave the company an "overweight" rating in a research note 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 company's stock. According to data from MarketBeat.com, AnaptysBio has an average rating of "Moderate Buy" and a consensus price target of $46.13.

Insider Buying and Selling

In other AnaptysBio news, Director Hollings Renton sold 20,925 shares of AnaptysBio stock in a transaction that occurred 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 transaction, the director owned 4,965 shares of the company's stock, valued at $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 is available at this hyperlink. 33.50% of the stock is currently owned by company insiders.

AnaptysBio Price Performance

Shares of NASDAQ ANAB traded up $0.08 during midday trading on Friday, hitting $20.05. 50,100 shares of the company's stock were exchanged, compared to its average volume of 768,467. AnaptysBio, Inc. has a twelve month low of $12.21 and a twelve month high of $40.70. The company has a market cap of $561.26 million, a PE ratio of -4.47 and a beta of -0.20. The firm's fifty day simple moving average is $24.05 and its 200-day simple moving average is $20.54.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its quarterly 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. The company had revenue of $22.26 million for the quarter, compared to analyst estimates of $11.55 million. AnaptysBio had a negative return on equity of 366.98% and a negative net margin of 107.66%. Equities analysts anticipate that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

About AnaptysBio

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.