Granahan Investment Management LLC Takes Position in AnaptysBio, Inc. (NASDAQ:ANAB)

Granahan Investment Management LLC purchased a new position in shares of AnaptysBio, Inc. (NASDAQ:ANAB) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 106,079 shares of the biotechnology company’s stock, valued at approximately $1,404,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in shares of AnaptysBio by 191.4% in the third quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company’s stock valued at $1,130,000 after buying an additional 22,164 shares in the last quarter. Victory Capital Management Inc. increased its position in AnaptysBio by 41.0% in the 4th quarter. Victory Capital Management Inc. now owns 334,450 shares of the biotechnology company’s stock valued at $4,428,000 after acquiring an additional 97,200 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of AnaptysBio by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company’s stock worth $24,411,000 after acquiring an additional 143,584 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of AnaptysBio during the fourth quarter worth approximately $311,000. Finally, AlphaQuest LLC grew its stake in shares of AnaptysBio by 1,891.5% during the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 4,237 shares during the last quarter.

Analyst Upgrades and Downgrades

ANAB has been the subject of several research analyst reports. 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 for the company. HC Wainwright reaffirmed a “neutral” rating and set a $22.00 price target on shares of AnaptysBio in a research note on Tuesday, March 4th. Guggenheim lifted their price objective on AnaptysBio from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. upped their target price on shares of AnaptysBio from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company lifted their price target on shares of AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.88.

AnaptysBio Price Performance

AnaptysBio stock opened at $19.59 on Friday. The firm has a market capitalization of $579.35 million, a price-to-earnings ratio of -3.22 and a beta of -0.20. The company’s 50 day simple moving average is $18.63 and its 200 day simple moving average is $18.59. AnaptysBio, Inc. has a fifty-two week low of $12.21 and a fifty-two week high of $41.31.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.02. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The company had revenue of $27.77 million for the quarter, compared to analysts’ expectations of $15.27 million. As a group, analysts predict that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

AnaptysBio announced that its Board of Directors has initiated a stock repurchase program on Monday, March 24th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the biotechnology company to purchase up to 13.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

About AnaptysBio

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.