Granahan Investment Management LLC Acquires 40,412 Shares of AnaptysBio, Inc. $ANAB

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 grew its holdings in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 38.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund 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 approximately 0.50% of AnaptysBio worth $2,723,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. HighMark Wealth Management LLC bought a new position in AnaptysBio in the 1st quarter worth $1,710,000. Two Sigma Investments LP raised its position in AnaptysBio by 66.4% in the 4th quarter. Two Sigma Investments LP now owns 352,034 shares of the biotechnology company's stock worth $4,661,000 after purchasing an additional 140,457 shares during the period. Moody Aldrich Partners LLC purchased a new position in shares of AnaptysBio during the first quarter worth approximately $1,547,000. BIT Capital GmbH bought a new position in shares of AnaptysBio during the first quarter valued at approximately $473,000. Finally, Sanofi bought a new position in shares of AnaptysBio during the fourth quarter valued at approximately $10,882,000.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ANAB. Guggenheim restated a "buy" rating and set a $90.00 target price (up from $54.00) on shares of AnaptysBio in a research report on Wednesday, May 28th. JPMorgan Chase & Co. boosted 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. UBS Group restated a "neutral" rating and issued a $20.00 price objective (up from $18.00) on shares of AnaptysBio in a report on Tuesday, August 12th. HC Wainwright raised shares of AnaptysBio from a "neutral" rating to a "buy" rating and upped their target price for the stock from $22.00 to $38.00 in a research note on Wednesday, June 4th. Finally, Wedbush raised their price objective on shares of AnaptysBio from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $46.13.

Insider Buying and Selling at AnaptysBio

In other news, Director Hollings Renton sold 20,925 shares of AnaptysBio stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $23.57, for a total value of $493,202.25. Following the transaction, 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 legal filing with the SEC, which is available at this link. Company insiders own 33.50% of the company's stock.

AnaptysBio Stock Performance

AnaptysBio stock traded down $0.06 during trading on Tuesday, reaching $22.13. The company had a trading volume of 368,991 shares, compared to its average volume of 737,865. AnaptysBio, Inc. has a 12-month low of $12.21 and a 12-month high of $40.70. The stock's 50 day moving average price is $23.12 and its two-hundred day moving average price is $20.97. The firm has a market capitalization of $619.57 million, a price-to-earnings ratio of -4.94 and a beta of -0.19.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its 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 business 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%. As a group, research analysts expect that AnaptysBio, Inc. will post -6.08 earnings per share for the current 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.