Frazier Life Sciences Management L.P. Reduces Stock Holdings in AnaptysBio, Inc. (NASDAQ:ANAB)

Frazier Life Sciences Management L.P. lessened its stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB) by 28.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,573,719 shares of the biotechnology company’s stock after selling 635,470 shares during the quarter. AnaptysBio accounts for about 0.9% of Frazier Life Sciences Management L.P.’s holdings, making the stock its 25th biggest holding. Frazier Life Sciences Management L.P. owned approximately 0.05% of AnaptysBio worth $20,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in AnaptysBio by 191.4% during the third quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company’s stock worth $1,130,000 after buying an additional 22,164 shares during the period. Victory Capital Management Inc. boosted its stake 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. Vanguard Group Inc. boosted its stake in AnaptysBio by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company’s stock worth $24,411,000 after buying an additional 143,584 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in AnaptysBio during the fourth quarter worth about $311,000. Finally, AlphaQuest LLC boosted its stake in AnaptysBio by 1,891.5% during the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock worth $59,000 after buying an additional 4,237 shares during the period.

Analysts Set New Price Targets

Several brokerages have weighed in on ANAB. HC Wainwright reaffirmed a “neutral” rating and set a $22.00 target price on shares of AnaptysBio in a research note on Tuesday, March 4th. Wells Fargo & Company raised their price objective 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. Wedbush reissued an “outperform” rating and issued a $40.00 price objective on shares of AnaptysBio in a research note on Thursday, May 1st. Wolfe Research began coverage on shares of AnaptysBio in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price objective for the company. Finally, Guggenheim raised their price objective on shares of AnaptysBio from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.88.

AnaptysBio Stock Up 3.1%

Shares of NASDAQ:ANAB opened at $21.10 on Wednesday. The firm’s 50 day moving average price is $19.11 and its 200 day moving average price is $18.25. The stock has a market cap of $619.92 million, a price-to-earnings ratio of -3.47 and a beta of -0.20. AnaptysBio, Inc. has a fifty-two week low of $12.21 and a fifty-two week high of $41.31.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share for the quarter, beating 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, equities analysts anticipate that AnaptysBio, Inc. will post -6.08 EPS for the current year.

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

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.