Wells Fargo & Company MN Trims Stake in AnaptysBio, Inc. (NASDAQ:ANAB)

Wells Fargo & Company MN lessened its stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 59.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,120 shares of the biotechnology company's stock after selling 15,977 shares during the quarter. Wells Fargo & Company MN's holdings in AnaptysBio were worth $147,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in AnaptysBio by 8.4% in 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 during the period. Victory Capital Management Inc. lifted its position in AnaptysBio by 41.0% during the fourth quarter. Victory Capital Management Inc. now owns 334,450 shares of the biotechnology company's stock worth $4,428,000 after buying an additional 97,200 shares during the period. JPMorgan Chase & Co. boosted its stake in AnaptysBio by 240.6% in the 4th quarter. JPMorgan Chase & Co. now owns 114,939 shares of the biotechnology company's stock worth $1,522,000 after buying an additional 81,195 shares during the last quarter. Barclays PLC increased its stake in shares of AnaptysBio by 117.4% during the 3rd quarter. Barclays PLC now owns 44,300 shares of the biotechnology company's stock valued at $1,486,000 after acquiring an additional 23,926 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of AnaptysBio during the 4th quarter worth about $311,000.

AnaptysBio Trading Up 0.1 %

Shares of NASDAQ ANAB opened at $19.59 on Friday. AnaptysBio, Inc. has a one year low of $12.21 and a one year high of $41.31. The business has a 50-day moving average price of $18.63 and a two-hundred day moving average price of $18.71. The firm has a market capitalization of $579.35 million, a PE ratio of -3.22 and a beta of -0.20.

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 during the quarter, compared to analyst estimates of $15.27 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. Research analysts anticipate that AnaptysBio, Inc. will post -6.08 EPS for the current year.

AnaptysBio announced that its Board of Directors has approved a share buyback program on Monday, March 24th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the biotechnology company to buy up to 13.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ANAB. Wedbush reissued an "outperform" rating and set a $40.00 target price on shares of AnaptysBio in a research report on Thursday, May 1st. HC Wainwright reissued a "neutral" rating and issued a $22.00 price objective on shares of AnaptysBio in a research report on Tuesday, March 4th. JPMorgan Chase & Co. raised their target price on AnaptysBio from $36.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Johnson Rice reissued a "buy" rating on shares of AnaptysBio in a research report on Wednesday, March 26th. Finally, Guggenheim upped their price objective on shares of AnaptysBio from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday. Four 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $35.88.

AnaptysBio 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.

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