Skandinaviska Enskilda Banken AB publ Purchases New Position in AnaptysBio, Inc. (NASDAQ:ANAB)

Key Points

• Skandinaviska Enskilda Banken AB publ has acquired a new stake in AnaptysBio, Inc., purchasing 33,523 shares valued at approximately $623,000.
• Wall Street analysts are optimistic about AnaptysBio, with several upgrading their ratings and raising price targets, including Guggenheim, which increased its target from $54 to $90.
• AnaptysBio reported earnings of ($1.28) per share, exceeding analysts' expectations, along with revenues of $27.77 million for the quarter, contrasting with a consensus estimate of $15.27 million.

Skandinaviska Enskilda Banken AB publ acquired a new stake in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 33,523 shares of the biotechnology company's stock, valued at approximately $623,000. Skandinaviska Enskilda Banken AB publ owned about 0.11% of AnaptysBio as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of ANAB. HighMark Wealth Management LLC bought a new position in AnaptysBio in the first quarter valued at approximately $1,710,000. Vanguard Group Inc. grew its stake in shares of AnaptysBio by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company's stock worth $24,411,000 after acquiring an additional 143,584 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of AnaptysBio by 66.4% during the 4th quarter. Two Sigma Investments LP now owns 352,034 shares of the biotechnology company's stock worth $4,661,000 after acquiring an additional 140,457 shares in the last quarter. Moody Aldrich Partners LLC bought a new stake in shares of AnaptysBio during the 1st quarter worth approximately $1,547,000. Finally, Sanofi bought a new stake in shares of AnaptysBio during the 4th quarter worth approximately $10,882,000.

Insider Activity

In related news, Director Hollings Renton sold 20,925 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $23.57, for a total transaction of $493,202.25. Following the sale, the director owned 4,965 shares in the company, valued at $117,025.05. This represents a 80.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 33.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ANAB has been the subject of several research analyst reports. Wedbush reaffirmed an "outperform" rating and set a $40.00 target price on shares of AnaptysBio in a report on Thursday, May 29th. Guggenheim reiterated a "buy" rating and set a $90.00 target price (up previously from $54.00) on shares of AnaptysBio in a research note on Wednesday, May 28th. JPMorgan Chase & Co. boosted their price objective on shares of AnaptysBio from $42.00 to $80.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, HC Wainwright raised shares of AnaptysBio from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $22.00 to $38.00 in a report on Wednesday, June 4th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.13.

AnaptysBio Stock Up 0.6%

Shares of ANAB stock traded up $0.14 on Friday, reaching $24.69. The company had a trading volume of 326,863 shares, compared to its average volume of 506,266. The stock has a market capitalization of $725.39 million, a PE ratio of -5.09 and a beta of -0.20. The business's 50-day moving average is $24.09 and its 200 day moving average is $20.25. AnaptysBio, Inc. has a one year low of $12.21 and a one year high of $41.31.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share for the quarter, topping the consensus estimate of ($1.30) by $0.02. AnaptysBio had a negative return on equity of 282.47% and a negative net margin of 125.70%. The company had revenue of $27.77 million for the quarter, compared to analysts' expectations of $15.27 million. On average, sell-side analysts forecast that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio Company Profile

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.