Granahan Investment Management LLC Sells 21,918 Shares of AnaptysBio, Inc. $ANAB

Granahan Investment Management LLC reduced its position in shares of AnaptysBio, Inc. (NASDAQ:ANAB) by 14.8% in the fourth quarter, Holdings Channel reports. The firm owned 125,855 shares of the biotechnology company’s stock after selling 21,918 shares during the quarter. Granahan Investment Management LLC’s holdings in AnaptysBio were worth $6,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ANAB. Affinity Asset Advisors LLC bought a new stake in AnaptysBio during the 4th quarter valued at about $21,559,000. JPMorgan Chase & Co. grew its stake in shares of AnaptysBio by 1,631.6% in the second quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock worth $5,497,000 after acquiring an additional 233,325 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of AnaptysBio by 145.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 370,458 shares of the biotechnology company’s stock worth $11,343,000 after acquiring an additional 219,648 shares during the period. Soleus Capital Management L.P. grew its stake in shares of AnaptysBio by 214.6% in the second quarter. Soleus Capital Management L.P. now owns 321,040 shares of the biotechnology company’s stock worth $7,127,000 after acquiring an additional 218,988 shares during the period. Finally, State Street Corp grew its stake in shares of AnaptysBio by 20.6% in the fourth quarter. State Street Corp now owns 1,053,474 shares of the biotechnology company’s stock worth $51,072,000 after acquiring an additional 180,042 shares during the period.

AnaptysBio Trading Down 3.2%

ANAB opened at $57.61 on Wednesday. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -53.34 and a beta of 0.72. The company’s 50 day moving average is $60.37 and its 200 day moving average is $54.74. AnaptysBio, Inc. has a 12-month low of $11.40 and a 12-month high of $72.36.

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

AnaptysBio declared that its board has initiated a share repurchase program on Friday, March 27th that allows the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization allows the biotechnology company to buy up to 5,352,316.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

ANAB has been the subject of a number of research analyst reports. Piper Sandler reduced their price target on shares of AnaptysBio from $95.00 to $93.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. Wall Street Zen lowered shares of AnaptysBio from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings lowered shares of AnaptysBio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Stifel Nicolaus lifted their price target on shares of AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, Leerink Partners set a $90.00 price target on shares of AnaptysBio in a research note on Friday, May 15th. Ten 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.82.

Insider Buying and Selling

In related news, CEO Daniel Faga sold 17,679 shares of the firm’s stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $61.61, for a total value of $1,089,203.19. Following the transaction, the chief executive officer owned 495,965 shares of the company’s stock, valued at approximately $30,556,403.65. This trade represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John P. Schmid sold 20,645 shares of the firm’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 transaction of $1,158,390.95. Following the completion of the transaction, the director directly owned 31,622 shares in the company, valued at approximately $1,774,310.42. The trade was a 39.50% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 33.50% of the company’s stock.

AnaptysBio 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.