The Manufacturers Life Insurance Company Sells 5,594 Shares of AnaptysBio, Inc. (NASDAQ:ANAB)

The Manufacturers Life Insurance Company trimmed its position in shares of AnaptysBio, Inc. (NASDAQ:ANAB) by 13.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,452 shares of the biotechnology company’s stock after selling 5,594 shares during the period. The Manufacturers Life Insurance Company owned about 0.12% of AnaptysBio worth $483,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of AnaptysBio during the fourth quarter valued at about $593,000. Virtus ETF Advisers LLC increased its position in shares of AnaptysBio by 24.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 936 shares during the period. Nebula Research & Development LLC purchased a new position in shares of AnaptysBio during the fourth quarter valued at about $231,000. Tower Research Capital LLC TRC increased its position in shares of AnaptysBio by 131.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 1,531 shares during the period. Finally, XTX Topco Ltd increased its position in shares of AnaptysBio by 97.2% during the fourth quarter. XTX Topco Ltd now owns 40,013 shares of the biotechnology company’s stock valued at $530,000 after buying an additional 19,727 shares during the period.

AnaptysBio Stock Performance

Shares of NASDAQ ANAB opened at $20.22 on Friday. The stock has a 50 day moving average price of $18.97 and a 200 day moving average price of $18.29. The firm has a market capitalization of $594.06 million, a price-to-earnings ratio of -3.33 and a beta of -0.20. AnaptysBio, Inc. has a 52-week low of $12.21 and a 52-week high of $41.31.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.30) by $0.02. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The firm had revenue of $27.77 million for the quarter, compared to the consensus estimate of $15.27 million. Analysts forecast that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio declared that its Board of Directors has authorized a share buyback plan on Monday, March 24th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the biotechnology company to repurchase up to 13.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

ANAB has been the topic of several research analyst reports. Guggenheim boosted their price target on shares of AnaptysBio from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Wolfe Research initiated coverage on shares of AnaptysBio in a research report on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price target on the stock. Johnson Rice reiterated a “buy” rating on shares of AnaptysBio in a research report on Wednesday, March 26th. HC Wainwright reiterated a “neutral” rating and set a $22.00 price target on shares of AnaptysBio in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of AnaptysBio from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.88.

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.