HighMark Wealth Management LLC Takes $1.71 Million Position in AnaptysBio, Inc. (NASDAQ:ANAB)

HighMark Wealth Management LLC purchased a new stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 92,000 shares of the biotechnology company's stock, valued at approximately $1,710,000. AnaptysBio makes up approximately 1.0% of HighMark Wealth Management LLC's portfolio, making the stock its 13th biggest position. HighMark Wealth Management LLC owned about 0.30% of AnaptysBio as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

ANAB has been the topic of a number of research analyst reports. Guggenheim reaffirmed a "buy" rating and set a $90.00 price target (up from $54.00) on shares of AnaptysBio in a report on Wednesday, May 28th. Johnson Rice restated a "buy" rating on shares of AnaptysBio in a research note on Wednesday, March 26th. HC Wainwright raised shares of AnaptysBio from a "neutral" rating to a "buy" rating and raised their price target for the company from $22.00 to $38.00 in a report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their price objective on shares of AnaptysBio from $36.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Finally, Wedbush restated an "outperform" rating and set a $40.00 price objective on shares of AnaptysBio in a research report on Thursday, May 29th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $42.38.

AnaptysBio Stock Performance

Shares of AnaptysBio stock traded down $0.91 on Friday, hitting $22.47. 545,336 shares of the company's stock were exchanged, compared to its average volume of 636,778. The stock has a market capitalization of $660.17 million, a PE ratio of -4.63 and a beta of -0.26. AnaptysBio, Inc. has a 1 year low of $12.21 and a 1 year high of $41.31. The company has a 50-day simple moving average of $21.64 and a 200-day simple moving average of $18.34.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share for the quarter, beating the consensus estimate of ($1.30) by $0.02. The company had revenue of $27.77 million for 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%. On average, analysts expect that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

AnaptysBio announced that its board has initiated a stock buyback program on Monday, March 24th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the biotechnology company to purchase up to 13.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

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.