ADAR1 Capital Management LLC Sells 165,419 Shares of AnaptysBio, Inc. (NASDAQ:ANAB)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Aristides Capital LLC bought a new position in AnaptysBio in the 4th quarter valued at $168,000. Russell Investments Group Ltd. increased its stake in AnaptysBio by 1,585.8% in the 4th quarter. Russell Investments Group Ltd. now owns 5,698 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 5,360 shares during the last quarter. Geode Capital Management LLC raised its stake in AnaptysBio by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 486,597 shares of the biotechnology company’s stock valued at $6,444,000 after purchasing an additional 21,196 shares in the last quarter. JPMorgan Chase & Co. increased its stake in AnaptysBio by 240.6% in the fourth quarter. JPMorgan Chase & Co. now owns 114,939 shares of the biotechnology company’s stock valued at $1,522,000 after acquiring an additional 81,195 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in 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 purchasing an additional 143,584 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Truist Financial reduced their price target on shares of AnaptysBio from $30.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. HC Wainwright restated a “neutral” rating and set a $22.00 price target on shares of AnaptysBio in a research report on Tuesday, March 4th. Wedbush reiterated an “outperform” rating and issued a $40.00 price objective on shares of AnaptysBio in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased 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. Finally, Guggenheim reiterated a “buy” rating on shares of AnaptysBio in a research report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AnaptysBio presently has an average rating of “Moderate Buy” and an average target price of $35.11.

AnaptysBio Stock Down 4.0 %

NASDAQ:ANAB opened at $18.51 on Monday. AnaptysBio, Inc. has a 52 week low of $12.21 and a 52 week high of $41.31. The company’s 50 day moving average price is $17.37 and its 200-day moving average price is $21.18. The stock has a market cap of $567.65 million, a price-to-earnings ratio of -3.04 and a beta of -0.10.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.89. The business had revenue of $43.11 million during the quarter, compared to analyst estimates of $10.17 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. As a group, sell-side analysts anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

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

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.