KLP Kapitalforvaltning AS Purchases New Position in AnaptysBio, Inc. (NASDAQ:ANAB)

KLP Kapitalforvaltning AS acquired a new stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,000 shares of the biotechnology company’s stock, valued at approximately $40,000.

Other institutional investors have also recently bought and sold shares of the company. Swiss National Bank boosted its position in shares of AnaptysBio by 12.1% during the fourth quarter. Swiss National Bank now owns 29,700 shares of the biotechnology company’s stock worth $393,000 after purchasing an additional 3,200 shares in the last quarter. AlphaQuest LLC increased its stake in AnaptysBio by 1,891.5% during the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock worth $59,000 after purchasing an additional 4,237 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of AnaptysBio by 41.0% during the fourth quarter. Victory Capital Management Inc. now owns 334,450 shares of the biotechnology company’s stock worth $4,428,000 after acquiring an additional 97,200 shares during the period. Charles Schwab Investment Management Inc. lifted its position in AnaptysBio by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 166,054 shares of the biotechnology company’s stock valued at $2,199,000 after acquiring an additional 5,733 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in AnaptysBio in the 4th quarter worth $311,000.

Analyst Ratings Changes

A number of research firms recently issued reports on ANAB. Wells Fargo & Company increased their price objective on AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Truist Financial decreased their price target on shares of AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Johnson Rice reissued a “buy” rating on shares of AnaptysBio in a research report on Wednesday, March 26th. HC Wainwright reiterated a “neutral” rating and issued a $22.00 price target on shares of AnaptysBio in a research note on Tuesday, March 4th. Finally, Wolfe Research began coverage on AnaptysBio in a report on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price objective for the company. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.11.

AnaptysBio Stock Up 5.7 %

ANAB opened at $17.17 on Friday. AnaptysBio, Inc. has a 12-month low of $12.21 and a 12-month high of $41.31. The business has a 50 day moving average of $17.32 and a 200-day moving average of $20.47. The stock has a market cap of $526.55 million, a price-to-earnings ratio of -2.82 and a beta of -0.09.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.61) by $0.89. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The business had revenue of $43.11 million during the quarter, compared to the consensus estimate of $10.17 million. As a group, analysts expect that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio announced that its board has authorized a share repurchase plan 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 plans are usually an indication that the company’s management believes its shares are undervalued.

AnaptysBio Profile

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.