Soleus Capital Management L.P. Takes Position in AnaptysBio, Inc. (NASDAQ:ANAB)

Soleus Capital Management L.P. acquired a new stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 414,000 shares of the biotechnology company's stock, valued at approximately $5,481,000. Soleus Capital Management L.P. owned approximately 1.36% of AnaptysBio as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in AnaptysBio by 131.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock valued at $36,000 after acquiring an additional 1,531 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in AnaptysBio during the fourth quarter valued at approximately $40,000. AlphaQuest LLC raised its position in AnaptysBio by 1,891.5% during the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock valued at $59,000 after acquiring an additional 4,237 shares in the last quarter. Virtus ETF Advisers LLC raised its position in AnaptysBio by 24.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company's stock valued at $63,000 after acquiring an additional 936 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in AnaptysBio by 1,585.8% during the fourth quarter. Russell Investments Group Ltd. now owns 5,698 shares of the biotechnology company's stock valued at $75,000 after acquiring an additional 5,360 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ANAB. Wells Fargo & Company raised their price objective on shares of AnaptysBio from $40.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Wolfe Research initiated coverage on shares of AnaptysBio in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $25.00 price target on the stock. Johnson Rice reissued a "buy" rating on shares of AnaptysBio in a research report on Wednesday, March 26th. HC Wainwright reissued a "neutral" rating and issued a $22.00 price target on shares of AnaptysBio in a research report on Tuesday, March 4th. Finally, Wedbush reissued an "outperform" rating and issued a $40.00 price target on shares of AnaptysBio in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.88.

AnaptysBio Price Performance

Shares of AnaptysBio stock traded down $0.30 during midday trading on Friday, hitting $20.44. The company had a trading volume of 357,651 shares, compared to its average volume of 600,947. The business's 50 day simple moving average is $19.36 and its two-hundred day simple moving average is $18.28. The stock has a market cap of $600.53 million, a PE ratio of -3.36 and a beta of -0.20. AnaptysBio, Inc. has a 1-year low of $12.21 and a 1-year high of $41.31.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.30) by $0.02. The business had revenue of $27.77 million for the quarter, compared to the consensus estimate of $15.27 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. On average, sell-side analysts expect that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

AnaptysBio announced that its Board of Directors has initiated a stock repurchase program on Monday, March 24th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the biotechnology company to buy up to 13.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.