Victory Capital Management Inc. Has $7.56 Million Stake in AnaptysBio, Inc. (NASDAQ:ANAB)

Key Points

• Victory Capital Management Inc. increased its stake in AnaptysBio by 21.5%, acquiring an additional 71,980 shares, bringing its total to 406,430 shares valued at approximately $7.56 million.
• Several hedge funds, including Charles Schwab and Vanguard Group, also increased their holdings in AnaptysBio, reflecting growing confidence in the company.
• Analysts have raised price targets for AnaptysBio, with Guggenheim now targeting $90.00 and JPMorgan Chase raising its target from $42.00 to $80.00, indicating strong bullish sentiment in the market.

Victory Capital Management Inc. lifted its position in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 21.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 406,430 shares of the biotechnology company's stock after acquiring an additional 71,980 shares during the quarter. Victory Capital Management Inc. owned approximately 1.33% of AnaptysBio worth $7,556,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of AnaptysBio by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company's stock valued at $24,411,000 after acquiring an additional 143,584 shares in the last quarter. Fairmount Funds Management LLC acquired a new position in AnaptysBio during the fourth quarter valued at $24,050,000. Boxer Capital Management LLC acquired a new position in AnaptysBio during the fourth quarter valued at $17,212,000. Sanofi acquired a new position in AnaptysBio during the fourth quarter valued at $10,882,000. Finally, Geode Capital Management LLC increased its stake in AnaptysBio by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 486,597 shares of the biotechnology company's stock valued at $6,444,000 after buying an additional 21,196 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. HC Wainwright upgraded shares of AnaptysBio from a "neutral" rating to a "buy" rating and raised their target price for the company from $22.00 to $38.00 in a research note on Wednesday, June 4th. Guggenheim reissued a "buy" rating and issued a $90.00 price target (up from $54.00) on shares of AnaptysBio in a report on Wednesday, May 28th. JPMorgan Chase & Co. increased their price target 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, Wedbush reissued an "outperform" rating and issued a $40.00 price target on shares of AnaptysBio in a report on Thursday, May 29th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.13.

Insider Transactions 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 shares were sold at an average price of $23.57, for a total transaction of $493,202.25. Following the completion of the transaction, the director owned 4,965 shares in the company, valued at approximately $117,025.05. The trade was a 80.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 33.50% of the company's stock.

AnaptysBio Stock Performance

Shares of NASDAQ ANAB traded up $0.15 during trading on Tuesday, reaching $26.74. The company had a trading volume of 35,874 shares, compared to its average volume of 791,581. AnaptysBio, Inc. has a 52 week low of $12.21 and a 52 week high of $41.31. The stock has a market cap of $785.62 million, a PE ratio of -5.51 and a beta of -0.27. The business's 50 day moving average price is $23.74 and its 200-day moving average price is $20.01.

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