First Light Asset Management LLC Has $86.14 Million Stock Holdings in AnaptysBio, Inc. $ANAB

Key Points

• First Light Asset Management LLC increased its stake in AnaptysBio, Inc. by 433.3%, now holding over 4.6 million shares valued at approximately $86.1 million, making it the firm's largest position.
• Other institutional investors have similarly bolstered their stakes in AnaptysBio, with Fairmount Funds Management purchasing $24 million in shares in the fourth quarter.
• AnaptysBio's stock has seen price target upgrades from various analysts, with expectations for growth reflected in price evaluations ranging from $20.00 to $90.00.

First Light Asset Management LLC boosted its position in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 433.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,633,602 shares of the biotechnology company's stock after acquiring an additional 3,764,720 shares during the period. AnaptysBio accounts for about 9.8% of First Light Asset Management LLC's holdings, making the stock its biggest position. First Light Asset Management LLC owned approximately 15.77% of AnaptysBio worth $86,139,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in AnaptysBio by 126.5% in the first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock worth $33,000 after acquiring an additional 979 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in AnaptysBio by 9,778.9% in the first quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company's stock worth $35,000 after acquiring an additional 1,858 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in AnaptysBio by 131.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock worth $36,000 after acquiring an additional 1,531 shares in the last quarter. GAMMA Investing LLC bought a new position in AnaptysBio in the first quarter worth approximately $113,000. Finally, Brooklyn Investment Group boosted its holdings in AnaptysBio by 1,779.9% in the first quarter. Brooklyn Investment Group now owns 6,373 shares of the biotechnology company's stock worth $118,000 after acquiring an additional 6,034 shares in the last quarter.

AnaptysBio Trading Up 3.8%

Shares of ANAB traded up $0.81 on Friday, reaching $21.90. 402,655 shares of the company's stock traded hands, compared to its average volume of 446,507. The stock has a market cap of $613.20 million, a PE ratio of -4.89 and a beta of -0.19. The stock's 50 day simple moving average is $23.13 and its two-hundred day simple moving average is $20.92. AnaptysBio, Inc. has a 52-week low of $12.21 and a 52-week high of $40.70.

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

Insider Transactions at AnaptysBio

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

Analyst Upgrades and Downgrades

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

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.