HighMark Wealth Management LLC Purchases Shares of 92,000 AnaptysBio, Inc. (NASDAQ:ANAB)

HighMark Wealth Management LLC bought a new position in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 92,000 shares of the biotechnology company's stock, valued at approximately $1,710,000. AnaptysBio comprises 1.0% of HighMark Wealth Management LLC's investment portfolio, making the stock its 13th largest position. HighMark Wealth Management LLC owned 0.30% of AnaptysBio at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its holdings 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 valued at $35,000 after acquiring an additional 1,858 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of AnaptysBio by 131.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock worth $36,000 after buying an additional 1,531 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of AnaptysBio during the fourth quarter worth approximately $40,000. AlphaQuest LLC raised its stake in shares of AnaptysBio by 1,891.5% during the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock worth $59,000 after buying an additional 4,237 shares during the last quarter. Finally, Virtus ETF Advisers LLC raised its stake in shares of AnaptysBio by 24.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company's stock worth $63,000 after buying an additional 936 shares during the last quarter.

AnaptysBio Stock Down 1.2%

Shares of NASDAQ:ANAB traded down $0.27 during mid-day trading on Monday, reaching $22.20. 525,155 shares of the stock were exchanged, compared to its average volume of 639,003. The company has a market cap of $652.24 million, a P/E ratio of -4.58 and a beta of -0.26. AnaptysBio, Inc. has a one year low of $12.21 and a one year high of $41.31. The stock's 50 day simple moving average is $21.71 and its 200-day simple moving average is $18.42.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share for the quarter, beating analysts' consensus estimates of ($1.30) by $0.02. The firm had revenue of $27.77 million during the quarter, compared to the consensus estimate of $15.27 million. AnaptysBio had a negative return on equity of 282.47% and a negative net margin of 125.70%. Analysts anticipate that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

AnaptysBio declared that its board has authorized a share buyback plan on Monday, March 24th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the biotechnology company to purchase up to 13.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ANAB. Wedbush reissued an "outperform" rating and set a $40.00 price target on shares of AnaptysBio in a research note on Thursday, May 29th. Guggenheim reissued 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. JPMorgan Chase & Co. increased their target price on AnaptysBio from $36.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. HC Wainwright raised AnaptysBio from a "neutral" rating to a "buy" rating and increased their target price for the company from $22.00 to $38.00 in a research note on Wednesday, June 4th. Finally, Johnson Rice reissued a "buy" rating on shares of AnaptysBio in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, AnaptysBio presently has a consensus rating of "Moderate Buy" and an average price target of $42.38.

AnaptysBio Company 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.