Rafferty Asset Management LLC Trims Holdings in AnaptysBio, Inc. $ANAB

Key Points

• Rafferty Asset Management LLC reduced its stake in AnaptysBio, Inc. by 56% during the 1st quarter, resulting in ownership of approximately 31,180 shares valued at $580,000.
• Other institutional investors, such as Wellington Management, made notable increases in their positions in AnaptysBio, with Wellington boosting its holdings by 14.4% to own 76,021 shares worth $1.4 million.
• AnaptysBio reported a quarterly revenue of $22.26 million, far exceeding the consensus estimate of $11.55 million, alongside a better-than-expected EPS of ($1.34).

Rafferty Asset Management LLC trimmed its position in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 56.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,180 shares of the biotechnology company's stock after selling 39,703 shares during the quarter. Rafferty Asset Management LLC owned 0.11% of AnaptysBio worth $580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Fairmount Funds Management LLC purchased a new position in AnaptysBio during the 4th quarter worth $24,050,000. Sanofi bought a new stake in shares of AnaptysBio during the fourth quarter valued at about $10,882,000. Woodline Partners LP increased its position in shares of AnaptysBio by 5.5% in the fourth quarter. Woodline Partners LP now owns 485,073 shares of the biotechnology company's stock worth $6,422,000 after purchasing an additional 25,094 shares during the last quarter. Soleus Capital Management L.P. bought a new position in shares of AnaptysBio in the fourth quarter worth approximately $5,481,000. Finally, Victory Capital Management Inc. increased its position in shares of AnaptysBio by 21.5% in the first quarter. Victory Capital Management Inc. now owns 406,430 shares of the biotechnology company's stock worth $7,556,000 after purchasing an additional 71,980 shares during the last quarter.

Insider Buying and Selling at AnaptysBio

In related news, Director Hollings Renton sold 20,925 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $23.57, for a total value of $493,202.25. Following the transaction, the director directly owned 4,965 shares of the company's stock, valued at approximately $117,025.05. The trade was a 80.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 33.50% of the stock is currently owned by insiders.

AnaptysBio Trading Up 1.3%

ANAB traded up $0.28 during trading on Monday, reaching $22.18. The stock had a trading volume of 18,237 shares, compared to its average volume of 737,005. The stock's 50 day moving average is $23.13 and its two-hundred day moving average is $20.94. The company has a market capitalization of $621.07 million, a price-to-earnings ratio of -4.98 and a beta of -0.19. AnaptysBio, Inc. has a one year low of $12.21 and a one year high of $40.70.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.50) by $0.16. The company had revenue of $22.26 million during the quarter, compared to the consensus estimate of $11.55 million. AnaptysBio had a negative return on equity of 366.98% and a negative net margin of 107.66%. On average, equities research analysts predict that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

Wall Street Analyst Weigh In

ANAB has been the topic of several research analyst reports. Wedbush upped their price objective on shares of AnaptysBio from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Guggenheim reaffirmed 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. UBS Group reissued a "neutral" rating and set a $20.00 price objective (up previously from $18.00) on shares of AnaptysBio in a research note on Tuesday, August 12th. JPMorgan Chase & Co. increased their price objective on AnaptysBio from $42.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, HC Wainwright raised AnaptysBio from a "neutral" rating to a "buy" rating and increased their price objective for the company from $22.00 to $38.00 in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, AnaptysBio has an average rating of "Moderate Buy" and an average target price of $46.13.

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.