Granahan Investment Management LLC Makes New Investment in AnaptysBio, Inc. (NASDAQ:ANAB)

Granahan Investment Management LLC bought a new position in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 106,079 shares of the biotechnology company's stock, valued at approximately $1,404,000. Granahan Investment Management LLC owned about 0.35% of AnaptysBio as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Tower Research Capital LLC TRC increased 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 worth $36,000 after purchasing an additional 1,531 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of AnaptysBio during the 4th quarter worth approximately $40,000. AlphaQuest LLC raised its position in shares of AnaptysBio by 1,891.5% during the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock valued at $59,000 after buying an additional 4,237 shares during the period. Virtus ETF Advisers LLC lifted its holdings in AnaptysBio by 24.7% in 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 during the last quarter. Finally, Russell Investments Group Ltd. raised its position in AnaptysBio by 1,585.8% in the fourth quarter. Russell Investments Group Ltd. now owns 5,698 shares of the biotechnology company's stock valued at $75,000 after purchasing an additional 5,360 shares during the period.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wedbush reaffirmed an "outperform" rating and set a $40.00 target price on shares of AnaptysBio in a research note on Thursday, May 1st. Johnson Rice reissued a "buy" rating on shares of AnaptysBio in a research report on Wednesday, March 26th. HC Wainwright reaffirmed a "neutral" rating and issued a $22.00 price objective on shares of AnaptysBio in a research note on Tuesday, March 4th. Wolfe Research began coverage on AnaptysBio in a research note on Tuesday, February 4th. They set an "outperform" rating and a $25.00 target price on the stock. Finally, Guggenheim lifted their target price on AnaptysBio from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $35.88.

AnaptysBio Price Performance

NASDAQ:ANAB traded down $1.07 during trading hours on Wednesday, reaching $19.45. 404,073 shares of the company were exchanged, compared to its average volume of 598,432. The stock has a 50 day simple moving average of $18.78 and a 200 day simple moving average of $18.43. 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 $571.44 million, a price-to-earnings ratio of -3.20 and a beta of -0.20.

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, beating analysts' consensus estimates of ($1.30) by $0.02. The business had revenue of $27.77 million during the quarter, compared to analyst estimates of $15.27 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. On average, analysts predict that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

AnaptysBio declared that its board has approved a stock buyback plan on Monday, March 24th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the biotechnology company to repurchase up to 13.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board 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.