AnaptysBio, Inc. $ANAB is First Light Asset Management LLC's Largest Position

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 grew its stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 433.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,633,602 shares of the biotechnology company's stock after purchasing an additional 3,764,720 shares during the period. AnaptysBio makes up 9.8% of First Light Asset Management LLC's investment portfolio, making the stock its biggest holding. First Light Asset Management LLC owned about 15.77% of AnaptysBio worth $86,139,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE lifted its holdings in shares of AnaptysBio by 126.5% in the first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock valued at $33,000 after purchasing an additional 979 shares in the last quarter. Farther Finance Advisors LLC increased its position 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 buying an additional 1,858 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in AnaptysBio by 131.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock valued at $36,000 after purchasing an additional 1,531 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of AnaptysBio during the 1st quarter valued at approximately $113,000. Finally, Brooklyn Investment Group grew its position in shares of AnaptysBio by 1,779.9% in the first quarter. Brooklyn Investment Group now owns 6,373 shares of the biotechnology company's stock valued at $118,000 after purchasing an additional 6,034 shares in the last quarter.

AnaptysBio Stock Performance

Shares of ANAB traded up $0.81 during mid-day trading on Friday, hitting $21.90. 402,655 shares of the company traded hands, compared to its average volume of 446,507. The stock has a 50-day moving average price of $23.13 and a two-hundred day moving average price of $20.91. The stock has a market cap of $613.13 million, a price-to-earnings ratio of -4.89 and a beta of -0.19. AnaptysBio, Inc. has a 1 year low of $12.21 and a 1 year high of $40.70.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its quarterly earnings data 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 during 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%. On average, analysts forecast that AnaptysBio, Inc. will post -6.08 EPS for the current year.

Insider Buying and Selling at AnaptysBio

In other 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 33.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.