Rafferty Asset Management LLC Cuts Stake 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 cut its holdings in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 56.0% during the 1st quarter, according to its most recent Form 13F 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 period. Rafferty Asset Management LLC owned approximately 0.11% of AnaptysBio worth $580,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP boosted its position in shares of AnaptysBio by 14.4% during the first quarter. Wellington Management Group LLP now owns 76,021 shares of the biotechnology company's stock valued at $1,413,000 after buying an additional 9,554 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of AnaptysBio by 1,779.9% during the first quarter. Brooklyn Investment Group now owns 6,373 shares of the biotechnology company's stock valued at $118,000 after buying an additional 6,034 shares during the last quarter. Algert Global LLC purchased a new stake in shares of AnaptysBio during the first quarter valued at $202,000. Cresset Asset Management LLC purchased a new stake in shares of AnaptysBio during the first quarter valued at $272,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of AnaptysBio during the first quarter valued at $517,000.

AnaptysBio Stock Up 1.4%

NASDAQ ANAB opened at $20.61 on Wednesday. The stock's 50-day moving average price is $23.20 and its 200-day moving average price is $20.89. AnaptysBio, Inc. has a 52 week low of $12.21 and a 52 week high of $40.70. The company has a market capitalization of $577.08 million, a P/E ratio of -4.60 and a beta of -0.19.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted 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. AnaptysBio had a negative return on equity of 366.98% and a negative net margin of 107.66%.The firm had revenue of $22.26 million for the quarter, compared to the consensus estimate of $11.55 million. Research analysts anticipate that AnaptysBio, Inc. will post -6.08 EPS for the current year.

Insider Activity at AnaptysBio

In other news, Director Hollings Renton sold 20,925 shares of the firm's stock in a transaction dated 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 owned 4,965 shares of the company's stock, valued at $117,025.05. This trade represents a 80.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 33.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on ANAB shares. Wedbush increased their price objective on AnaptysBio from $40.00 to $45.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. 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 report on Wednesday, June 4th. JPMorgan Chase & Co. raised their target price on AnaptysBio from $42.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Guggenheim reissued a "buy" rating and issued a $90.00 target price (up from $54.00) on shares of AnaptysBio in a research report on Wednesday, May 28th. Finally, UBS Group reissued a "neutral" rating and issued a $20.00 target price (up from $18.00) on shares of AnaptysBio in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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