AnaptysBio, Inc. $ANAB Shares Acquired by Granahan Investment Management LLC

Key Points

• Granahan Investment Management LLC increased its holdings in AnaptysBio, Inc. by 38.1% during the first quarter, now owning approximately 0.50% of the company with a value of $2,723,000.
• AnaptysBio reported a quarterly earnings result that exceeded expectations, with earnings per share of ($1.34) compared to the consensus estimate of ($1.50), alongside a revenue of $22.26 million.
• Analysts at several firms have raised their price targets for AnaptysBio, predicting future growth, with targets now ranging up to $90.00.

Granahan Investment Management LLC increased its holdings in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 38.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,491 shares of the biotechnology company's stock after purchasing an additional 40,412 shares during the period. Granahan Investment Management LLC owned 0.50% of AnaptysBio worth $2,723,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. US Bancorp DE boosted its stake in AnaptysBio by 126.5% during the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 979 shares during the period. Farther Finance Advisors LLC boosted its stake in AnaptysBio by 9,778.9% during the 1st quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company's stock worth $35,000 after purchasing an additional 1,858 shares during the period. Tower Research Capital LLC TRC boosted its stake in AnaptysBio by 131.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 1,531 shares during the period. GAMMA Investing LLC acquired a new stake in AnaptysBio during the 1st quarter worth $113,000. Finally, Brooklyn Investment Group boosted its stake in AnaptysBio by 1,779.9% during the 1st quarter. Brooklyn Investment Group now owns 6,373 shares of the biotechnology company's stock worth $118,000 after purchasing an additional 6,034 shares during the period.

Insider Buying and Selling

In other news, Director Hollings Renton sold 20,925 shares of the stock in a transaction dated 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 directly owned 4,965 shares of the company's stock, valued at $117,025.05. This represents a 80.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 33.50% of the company's stock.

Analysts Set New Price Targets

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

AnaptysBio Stock Up 1.1%

ANAB stock traded up $0.24 during trading on Thursday, hitting $23.02. The company had a trading volume of 150,074 shares, compared to its average volume of 733,472. AnaptysBio, Inc. has a 52-week low of $12.21 and a 52-week high of $40.70. The company has a 50 day simple moving average of $23.10 and a 200-day simple moving average of $20.98. The firm has a market capitalization of $644.64 million, a P/E ratio of -5.16 and a beta of -0.19.

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