Soleus Capital Management L.P. Invests $5.48 Million in AnaptysBio, Inc. (NASDAQ:ANAB)

Soleus Capital Management L.P. bought 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 fund bought 414,000 shares of the biotechnology company's stock, valued at approximately $5,481,000. Soleus Capital Management L.P. owned about 1.36% of AnaptysBio as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ANAB. Fairmount Funds Management LLC purchased a new position in AnaptysBio in the fourth quarter worth $24,050,000. Boxer Capital Management LLC purchased a new position in shares of AnaptysBio in the 4th quarter worth about $17,212,000. Sanofi bought a new position in AnaptysBio during the fourth quarter valued at about $10,882,000. Vanguard Group Inc. grew its position in AnaptysBio by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company's stock valued at $24,411,000 after buying an additional 143,584 shares during the period. Finally, Two Sigma Investments LP increased its holdings in AnaptysBio by 66.4% during the fourth quarter. Two Sigma Investments LP now owns 352,034 shares of the biotechnology company's stock worth $4,661,000 after buying an additional 140,457 shares during the last quarter.

AnaptysBio Stock Performance

AnaptysBio stock traded down $0.07 during midday trading on Thursday, reaching $20.74. 360,420 shares of the stock were exchanged, compared to its average volume of 600,622. AnaptysBio, Inc. has a 52 week low of $12.21 and a 52 week high of $41.31. The firm has a market cap of $609.34 million, a PE ratio of -3.41 and a beta of -0.20. The company's fifty day moving average is $19.19 and its 200-day moving average is $18.27.

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. The firm had revenue of $27.77 million for the quarter, compared to analysts' expectations 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 anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio announced that its Board of Directors has initiated a share buyback plan on Monday, March 24th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the biotechnology company to reacquire up to 13.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Guggenheim increased their target price on shares of AnaptysBio from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. increased their price objective on AnaptysBio from $36.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Wedbush reissued an "outperform" rating and issued a $40.00 target price on shares of AnaptysBio in a research report on Thursday, May 1st. HC Wainwright reaffirmed a "neutral" rating and set a $22.00 price target on shares of AnaptysBio in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company increased their price target on AnaptysBio from $40.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AnaptysBio has an average rating of "Moderate Buy" and an average target price of $35.88.

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.