ADAR1 Capital Management LLC Reduces Stock Position in AnaptysBio, Inc. (NASDAQ:ANAB)

ADAR1 Capital Management LLC cut its holdings in AnaptysBio, Inc. (NASDAQ:ANAB) by 85.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,301 shares of the biotechnology company’s stock after selling 165,419 shares during the period. ADAR1 Capital Management LLC owned 0.09% of AnaptysBio worth $361,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. grew its position in shares of AnaptysBio by 2.0% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company’s stock valued at $74,008,000 after buying an additional 43,598 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of 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. Geode Capital Management LLC boosted 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 worth $6,444,000 after buying an additional 21,196 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of AnaptysBio by 41.0% during the 4th quarter. Victory Capital Management Inc. now owns 334,450 shares of the biotechnology company’s stock valued at $4,428,000 after buying an additional 97,200 shares during the period. Finally, Jennison Associates LLC increased its position in shares of AnaptysBio by 1.6% in the fourth quarter. Jennison Associates LLC now owns 269,131 shares of the biotechnology company’s stock worth $3,563,000 after acquiring an additional 4,242 shares in the last quarter.

AnaptysBio Stock Down 4.0 %

Shares of AnaptysBio stock opened at $18.51 on Monday. The company has a 50-day simple moving average of $17.37 and a two-hundred day simple moving average of $21.18. AnaptysBio, Inc. has a twelve month low of $12.21 and a twelve month high of $41.31. The stock has a market capitalization of $567.65 million, a price-to-earnings ratio of -3.04 and a beta of -0.10.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($1.61) by $0.89. The business had revenue of $43.11 million during the quarter, compared to analysts’ expectations of $10.17 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 has authorized a share buyback program on Monday, March 24th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the biotechnology company to purchase up to 13.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ANAB. 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 objective on the stock. Wells Fargo & Company lifted their target price on shares of AnaptysBio from $40.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. HC Wainwright reiterated a “neutral” rating and issued a $22.00 target price on shares of AnaptysBio in a research note on Tuesday, March 4th. Wedbush reiterated an “outperform” rating and issued a $40.00 price target on shares of AnaptysBio in a research report on Wednesday, February 12th. Finally, Guggenheim reissued a “buy” rating on shares of AnaptysBio in a report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AnaptysBio has an average rating of “Moderate Buy” and a consensus price target of $35.11.

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.