AnaptysBio, Inc. $ANAB is 683 Capital Management LLC’s 8th Largest Position

683 Capital Management LLC raised its stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB) by 18.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 648,093 shares of the biotechnology company’s stock after acquiring an additional 101,093 shares during the period. AnaptysBio makes up 1.4% of 683 Capital Management LLC’s investment portfolio, making the stock its 8th biggest holding. 683 Capital Management LLC’s holdings in AnaptysBio were worth $31,420,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Granahan Investment Management LLC raised its stake in AnaptysBio by 12.2% during the 3rd quarter. Granahan Investment Management LLC now owns 147,773 shares of the biotechnology company’s stock valued at $4,525,000 after acquiring an additional 16,118 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of AnaptysBio by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company’s stock worth $74,855,000 after buying an additional 67,048 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of AnaptysBio by 333.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 145,191 shares of the biotechnology company’s stock worth $4,446,000 after buying an additional 111,668 shares in the last quarter. Sofinnova Investments Inc. raised its stake in shares of AnaptysBio by 13.1% during the 4th quarter. Sofinnova Investments Inc. now owns 287,690 shares of the biotechnology company’s stock worth $13,947,000 after buying an additional 33,422 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of AnaptysBio by 56.0% during the 4th quarter. BNP Paribas Financial Markets now owns 164,823 shares of the biotechnology company’s stock worth $7,991,000 after buying an additional 59,160 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. HC Wainwright assumed coverage on AnaptysBio in a research note on Wednesday, June 10th. They set a “buy” rating and a $95.00 target price for the company. Leerink Partners set a $90.00 target price on AnaptysBio in a research note on Friday, May 15th. Piper Sandler cut their target price on AnaptysBio from $95.00 to $93.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. Zacks Research downgraded AnaptysBio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Barclays increased their target price on AnaptysBio from $63.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, AnaptysBio has a consensus rating of “Moderate Buy” and a consensus target price of $81.82.

AnaptysBio Price Performance

ANAB opened at $56.77 on Thursday. The stock has a market cap of $1.65 billion, a P/E ratio of -52.56 and a beta of 0.72. The stock’s 50 day simple moving average is $60.26 and its 200 day simple moving average is $54.84. AnaptysBio, Inc. has a 1-year low of $11.40 and a 1-year high of $72.36.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($1.20). The firm had revenue of $25.56 million during the quarter, compared to analyst estimates of $18.86 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 11.53%. Research analysts expect that AnaptysBio, Inc. will post -1.35 EPS for the current fiscal year.

AnaptysBio announced that its Board of Directors has approved a share repurchase plan on Friday, March 27th that authorizes the company to buyback $100,000.00 billion in outstanding shares. This buyback authorization authorizes the biotechnology company to reacquire up to 5,352,316.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Daniel Faga sold 17,679 shares of the company’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $61.61, for a total value of $1,089,203.19. Following the sale, the chief executive officer owned 495,965 shares in the company, valued at $30,556,403.65. This represents a 3.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John P. Schmid sold 20,645 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $56.11, for a total value of $1,158,390.95. Following the completion of the sale, the director owned 31,622 shares in the company, valued at approximately $1,774,310.42. This represents a 39.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 33.50% of the company’s stock.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.