Irenic Capital Management LP Makes New Investment in AnaptysBio, Inc. $ANAB

Key Points

• Irenic Capital Management initiated a position in AnaptysBio by purchasing 70,447 shares valued at approximately $4.76 million, representing 0.24% of the company.
• Analyst sentiment remains generally positive, with 11 Buy, three Hold and one Sell rating; the consensus rating is Moderate Buy with a target price of $79.85.
• AnaptysBio shares opened at $56.80, while the stock has traded between $11.40 and $72.36 over the past year; the clinical-stage biotechnology company develops antibody therapies for immunology and inflammatory diseases.

Irenic Capital Management LP bought a new position in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 70,447 shares of the biotechnology company's stock, valued at approximately $4,755,000. Irenic Capital Management LP owned 0.24% of AnaptysBio at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tema ETFs LLC boosted its stake in AnaptysBio by 0.6% during the 2nd quarter. Tema ETFs LLC now owns 31,270 shares of the biotechnology company's stock worth $2,111,000 after acquiring an additional 201 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in AnaptysBio by 1.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 15,101 shares of the biotechnology company's stock valued at $732,000 after purchasing an additional 225 shares during the period. Larson Financial Group LLC increased its stake in AnaptysBio by 21.2% in the fourth quarter. Larson Financial Group LLC now owns 1,624 shares of the biotechnology company's stock valued at $79,000 after purchasing an additional 284 shares in the last quarter. Susquehanna Portfolio Strategies LLC increased its stake in AnaptysBio by 1.4% in the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 35,948 shares of the biotechnology company's stock valued at $1,743,000 after purchasing an additional 500 shares in the last quarter. Finally, Persistent Asset Partners Ltd acquired a new stake in AnaptysBio in the second quarter worth $39,000.

Analyst Ratings Changes

Several brokerages have recently issued reports on ANAB. Wall Street Zen lowered shares of AnaptysBio from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings restated a "sell (e+)" rating on shares of AnaptysBio in a report on Friday, August 7th. Zacks Research cut AnaptysBio from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 2nd. Barclays upped their price target on AnaptysBio from $63.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 13th. Finally, TD Cowen decreased their price target on shares of AnaptysBio from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, August 25th. Eleven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $79.85.

AnaptysBio Price Performance

NASDAQ:ANAB opened at $56.80 on Friday. AnaptysBio, Inc. has a one year low of $11.40 and a one year high of $72.36. The company has a market cap of $1.68 billion, a P/E ratio of -52.59 and a beta of 0.71. The firm's fifty day moving average price is $58.18 and its two-hundred day moving average price is $59.19.

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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