HighMark Wealth Management LLC Raises Stock Position in AnaptysBio, Inc. $ANAB

Key Points

• HighMark Wealth Management LLC increased its stake in AnaptysBio, Inc. by 58.2%, owning 145,550 shares after purchasing an additional 53,550 shares.
• JPMorgan Chase & Co. raised their price objective for AnaptysBio from $42.00 to $80.00, signaling a strong confidence in the stock's potential.
• AnaptysBio reported earnings per share of ($1.34), beating analysts' expectations, and had a revenue of $22.26 million compared to expected $11.55 million.

HighMark Wealth Management LLC lifted its stake in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 58.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,550 shares of the biotechnology company's stock after purchasing an additional 53,550 shares during the period. AnaptysBio accounts for about 1.6% of HighMark Wealth Management LLC's investment portfolio, making the stock its 11th biggest holding. HighMark Wealth Management LLC owned about 0.50% of AnaptysBio worth $3,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ANAB. Wellington Management Group LLP boosted its position in AnaptysBio by 0.8% during the 4th quarter. Wellington Management Group LLP now owns 66,467 shares of the biotechnology company's stock valued at $880,000 after acquiring an additional 528 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of AnaptysBio by 2.7% in the 1st quarter. Rhumbline Advisers now owns 30,903 shares of the biotechnology company's stock valued at $574,000 after purchasing an additional 826 shares during the period. US Bancorp DE lifted its stake in shares of AnaptysBio by 126.5% in the 1st 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 during the period. California State Teachers Retirement System boosted its position in shares of AnaptysBio by 10.3% during the fourth quarter. California State Teachers Retirement System now owns 14,590 shares of the biotechnology company's stock valued at $193,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake 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 purchasing an additional 1,858 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on AnaptysBio from $42.00 to $80.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Wedbush reiterated an "outperform" rating and issued a $45.00 price target on shares of AnaptysBio in a research note on Tuesday. UBS Group reissued a "neutral" rating and set a $20.00 price target (up from $18.00) on shares of AnaptysBio in a research report on Tuesday, August 12th. Finally, HC Wainwright upped their price objective on shares of AnaptysBio from $38.00 to $59.00 and gave the stock a "buy" rating in a report on Tuesday. One investment 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. Based on data from MarketBeat, AnaptysBio has an average rating of "Moderate Buy" and an average target price of $48.75.

AnaptysBio Price Performance

Shares of AnaptysBio stock opened at $31.34 on Friday. AnaptysBio, Inc. has a 1 year low of $12.21 and a 1 year high of $36.54. The firm's 50-day moving average is $22.34 and its 200 day moving average is $21.74. The stock has a market cap of $877.52 million, a price-to-earnings ratio of -7.00 and a beta of -0.18.

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

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