683 Capital Management LLC Buys 304,373 Shares of AnaptysBio, Inc. $ANAB

683 Capital Management LLC increased its stake in AnaptysBio, Inc. (NASDAQ:ANAB) by 155.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 500,000 shares of the biotechnology company’s stock after purchasing an additional 304,373 shares during the quarter. AnaptysBio makes up approximately 0.7% of 683 Capital Management LLC’s portfolio, making the stock its 26th biggest holding. 683 Capital Management LLC’s holdings in AnaptysBio were worth $11,100,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. First Light Asset Management LLC grew its holdings in AnaptysBio by 433.3% during the first quarter. First Light Asset Management LLC now owns 4,633,602 shares of the biotechnology company’s stock valued at $86,139,000 after purchasing an additional 3,764,720 shares during the period. Caption Management LLC raised its stake in shares of AnaptysBio by 106.3% in the first quarter. Caption Management LLC now owns 23,376 shares of the biotechnology company’s stock valued at $435,000 after buying an additional 394,634 shares during the period. Woodline Partners LP lifted its position in shares of AnaptysBio by 63.1% during the 1st quarter. Woodline Partners LP now owns 791,023 shares of the biotechnology company’s stock valued at $14,705,000 after buying an additional 305,950 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of AnaptysBio by 1,631.6% during the 2nd 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. Finally, Palo Alto Investors LP grew its stake in shares of AnaptysBio by 20.9% during the 1st quarter. Palo Alto Investors LP now owns 1,020,713 shares of the biotechnology company’s stock worth $18,975,000 after acquiring an additional 176,742 shares during the period.

AnaptysBio Trading Down 1.8%

ANAB stock opened at $44.94 on Friday. The firm has a 50 day moving average of $37.24 and a 200-day moving average of $28.05. The firm has a market capitalization of $1.24 billion, a P/E ratio of -15.94 and a beta of 0.29. AnaptysBio, Inc. has a 12 month low of $12.21 and a 12 month high of $47.86.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $1.58. AnaptysBio had a negative net margin of 49.94% and a negative return on equity of 1,101.24%. The business had revenue of $76.32 million for the quarter, compared to analysts’ expectations of $15.83 million. Sell-side analysts predict that AnaptysBio, Inc. will post -6.08 EPS for the current year.

AnaptysBio announced 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 buy up to 9.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays dropped their price objective on shares of AnaptysBio from $83.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Guggenheim boosted their price target on shares of AnaptysBio from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Wedbush reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of AnaptysBio in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AnaptysBio in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus dropped their target price on AnaptysBio from $80.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.90.

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.