Geode Capital Management LLC Has $10.29 Million Holdings in AnaptysBio, Inc. $ANAB

Geode Capital Management LLC cut its holdings in shares of AnaptysBio, Inc. (NASDAQ:ANAB) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 463,358 shares of the biotechnology company’s stock after selling 27,809 shares during the quarter. Geode Capital Management LLC’s holdings in AnaptysBio were worth $10,288,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in AnaptysBio during the 2nd quarter worth $334,000. Savant Capital LLC bought a new stake in shares of AnaptysBio during the 2nd quarter valued at $241,000. Corton Capital Inc. grew its holdings in shares of AnaptysBio by 12.2% during the 2nd quarter. Corton Capital Inc. now owns 12,004 shares of the biotechnology company’s stock worth $266,000 after purchasing an additional 1,305 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in AnaptysBio in the second quarter valued at about $834,000. Finally, Allianz Asset Management GmbH bought a new stake in AnaptysBio during the second quarter worth about $337,000.

Analysts Set New Price Targets

ANAB has been the topic of several recent analyst reports. HC Wainwright decreased their target price on shares of AnaptysBio from $52.00 to $51.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Truist Financial boosted their price objective on shares of AnaptysBio from $20.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, November 10th. Barclays cut their target price on AnaptysBio from $83.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Guggenheim lifted their price target on AnaptysBio from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Wells Fargo & Company raised their price objective on AnaptysBio from $51.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.30.

AnaptysBio Stock Up 7.0%

Shares of ANAB stock opened at $43.76 on Thursday. AnaptysBio, Inc. has a twelve month low of $12.21 and a twelve month high of $44.29. The stock’s fifty day simple moving average is $34.88 and its 200 day simple moving average is $26.94. The firm has a market capitalization of $1.21 billion, a P/E ratio of -15.52 and a beta of 0.29.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $1.58. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 49.94%.The firm had revenue of $76.32 million for the quarter, compared to analyst estimates of $15.83 million. As a group, equities research analysts expect that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

AnaptysBio declared that its board has initiated a stock buyback plan on Friday, November 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the biotechnology company to reacquire up to 9.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board 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.