Palo Alto Investors LP Invests $40.74 Billion in AnaptysBio, Inc. $ANAB

Key Points

• Palo Alto Investors LP acquired 603,489 AnaptysBio shares worth approximately $40.74 billion, making the biotechnology company 5.6% of the fund’s portfolio and its fifth-largest holding.
• Several institutional investors increased or initiated positions in AnaptysBio, including BlackRock, Bank of America, JPMorgan Chase and Voloridge Investment Management.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $80 versus the stock’s $57.29 opening price.

Palo Alto Investors LP purchased a new stake in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 603,489 shares of the biotechnology company's stock, valued at approximately $40,735,508,000. AnaptysBio accounts for 5.6% of Palo Alto Investors LP's holdings, making the stock its 5th biggest position. Palo Alto Investors LP owned approximately 2.04% 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 ANAB. BlackRock Inc. purchased a new stake in AnaptysBio during the second quarter valued at about $124,473,000. Affinity Asset Advisors LLC raised its holdings in shares of AnaptysBio by 111.4% in the 1st quarter. Affinity Asset Advisors LLC now owns 940,000 shares of the biotechnology company's stock worth $52,132,000 after purchasing an additional 495,308 shares during the period. Bank of America Corp DE acquired a new position in shares of AnaptysBio in the 2nd quarter valued at about $28,202,000. JPMorgan Chase & Co. lifted its stake in shares of AnaptysBio by 1,631.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company's stock valued at $5,497,000 after purchasing an additional 233,325 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in shares of AnaptysBio by 2,358.3% in the 4th quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company's stock valued at $11,109,000 after purchasing an additional 219,816 shares in the last quarter.

Wall Street Analyst Weigh In

ANAB has been the subject of a number of research reports. Scotiabank cut shares of AnaptysBio to a "hold" rating and set a $70.00 price target for the company. in a research report on Tuesday. TD Cowen cut their price objective on AnaptysBio from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday. Wall Street Zen cut AnaptysBio from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 16th. UBS Group upped their target price on AnaptysBio from $60.00 to $76.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Finally, HC Wainwright reiterated a "buy" rating and issued a $95.00 target price on shares of AnaptysBio in a research note on Monday. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $80.00.

AnaptysBio Price Performance

NASDAQ ANAB opened at $57.29 on Friday. AnaptysBio, Inc. has a 12 month low of $11.40 and a 12 month high of $72.36. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -53.05 and a beta of 0.72. The company's fifty day moving average price is $58.57 and its two-hundred day moving average price is $59.07.

About AnaptysBio

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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