HighMark Wealth Management LLC Has $4.56 Million Position in AnaptysBio, Inc. $ANAB

Key Points

• HighMark Wealth Management cut its AnaptysBio stake by 30.4% in the fourth quarter, but still held 94,050 shares worth about $4.56 million as of its latest filing.
• Analysts remain mostly positive on ANAB, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating and a target price of $78.73.
• AnaptysBio reported a wider-than-expected quarterly loss of $1.84 per share but beat revenue estimates, while insiders including the CEO and a director also sold shares during the period.

HighMark Wealth Management LLC decreased its stake in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 30.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,050 shares of the biotechnology company's stock after selling 41,000 shares during the period. AnaptysBio comprises about 1.9% of HighMark Wealth Management LLC's holdings, making the stock its 11th largest holding. HighMark Wealth Management LLC owned about 0.34% of AnaptysBio worth $4,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in AnaptysBio by 153.3% during the 1st quarter. AQR Capital Management LLC now owns 30,011 shares of the biotechnology company's stock worth $558,000 after buying an additional 18,165 shares during the period. Creative Planning increased its position in AnaptysBio by 26.9% in the 2nd quarter. Creative Planning now owns 16,854 shares of the biotechnology company's stock valued at $374,000 after acquiring an additional 3,571 shares during the period. JPMorgan Chase & Co. raised its stake in shares of AnaptysBio by 1,631.6% during the second quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company's stock valued at $5,497,000 after acquiring an additional 233,325 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of AnaptysBio during the second quarter valued at $528,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of AnaptysBio during the second quarter worth $3,348,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on ANAB shares. Truist Financial upgraded AnaptysBio to a "hold" rating in a research report on Wednesday, March 25th. Zacks Research raised AnaptysBio from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 4th. Barclays upped their target price on AnaptysBio from $63.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday. Leerink Partners increased their target price on shares of AnaptysBio from $66.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Finally, UBS Group raised their price target on shares of AnaptysBio from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.73.

AnaptysBio Price Performance

NASDAQ ANAB opened at $62.69 on Thursday. The business has a 50 day simple moving average of $62.56 and a 200 day simple moving average of $51.42. AnaptysBio, Inc. has a one year low of $11.40 and a one year high of $72.36. The stock has a market capitalization of $1.82 billion, a P/E ratio of -58.05 and a beta of 0.79.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($1.20). The business had revenue of $25.56 million during the quarter, compared to analyst estimates of $18.86 million. AnaptysBio had a negative net margin of 11.53% and a negative return on equity of 1,101.24%. Equities analysts expect that AnaptysBio, Inc. will post -1.3 earnings per share for the current year.

AnaptysBio declared that its board has authorized a share repurchase program on Friday, March 27th that permits the company to buyback $100,000.00 billion in outstanding shares. This buyback authorization permits the biotechnology company to repurchase up to 5,352,316.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director John P. Schmid sold 20,645 shares of the company's stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $56.11, for a total transaction of $1,158,390.95. Following the transaction, the director owned 31,622 shares in the company, valued at approximately $1,774,310.42. This represents a 39.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel Faga sold 17,679 shares of the stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $61.61, for a total transaction of $1,089,203.19. Following the transaction, the chief executive officer directly owned 495,965 shares in the company, valued at $30,556,403.65. This trade represents a 3.44% decrease in their position. The SEC filing for this sale provides additional information. 33.50% of the stock is owned by insiders.

AnaptysBio Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company's technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company's pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.

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