Palo Alto Investors LP Purchases Shares of 603,489 AnaptysBio, Inc. $ANAB

Key Points

• Palo Alto Investors LP acquired 603,489 AnaptysBio shares during the second quarter, worth approximately $40.7 million and representing about 2.04% of the biotechnology company.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $80, although ratings range from buy to sell.
• ANAB traded at $56.28, with a market capitalization of roughly $1.67 billion; its shares have ranged from $11.40 to $72.36 over the past 52 weeks.

Palo Alto Investors LP bought a new stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 603,489 shares of the biotechnology company's stock, valued at approximately $40,735,508. AnaptysBio comprises about 0.0% of Palo Alto Investors LP's holdings, making the stock its 5th biggest position. Palo Alto Investors LP owned about 2.04% of AnaptysBio at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ANAB. Persistent Asset Partners Ltd acquired a new position in AnaptysBio in the second quarter worth about $39,000. Smartleaf Asset Management LLC raised its holdings in AnaptysBio by 5,864.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company's stock valued at $40,000 after acquiring an additional 821 shares during the period. Larson Financial Group LLC boosted its stake in shares of AnaptysBio by 54.6% during the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 473 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of AnaptysBio by 175.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company's stock worth $48,000 after buying an additional 1,377 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its stake in shares of AnaptysBio by 11,630.0% in the second quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company's stock worth $52,000 after acquiring an additional 2,326 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of AnaptysBio in a research note on Friday, August 7th. Zacks Research cut shares of AnaptysBio from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 2nd. Leerink Partners set a $90.00 price target on AnaptysBio in a research report on Friday, May 15th. UBS Group raised their price objective on AnaptysBio from $60.00 to $76.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Finally, Piper Sandler decreased their price objective on AnaptysBio from $95.00 to $93.00 and set an "overweight" rating on the stock in a research note on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $80.00.

AnaptysBio Price Performance

NASDAQ ANAB traded down $1.01 during mid-day trading on Friday, hitting $56.28. The company's stock had a trading volume of 358,263 shares, compared to its average volume of 711,071. AnaptysBio, Inc. has a 52-week low of $11.40 and a 52-week high of $72.36. The firm has a market capitalization of $1.67 billion, a P/E ratio of -52.11 and a beta of 0.72. The stock's fifty day simple moving average is $58.57 and its two-hundred day simple moving average is $59.07.

AnaptysBio Company 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.