Sofinnova Investments Inc. Has $13.95 Million Stock Position in AnaptysBio, Inc. $ANAB

Sofinnova Investments Inc. boosted its holdings in shares of AnaptysBio, Inc. (NASDAQ:ANAB) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 287,690 shares of the biotechnology company’s stock after buying an additional 33,422 shares during the period. Sofinnova Investments Inc. owned approximately 1.04% of AnaptysBio worth $13,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in AnaptysBio by 5,864.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 821 shares during the last quarter. Larson Financial Group LLC boosted its stake in AnaptysBio by 54.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 473 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in AnaptysBio by 24.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,345 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 263 shares during the period. SBI Securities Co. Ltd. boosted its stake in AnaptysBio by 45,750.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,834 shares of the biotechnology company’s stock valued at $89,000 after purchasing an additional 1,830 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of AnaptysBio by 175.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 1,377 shares during the period.

AnaptysBio Trading Up 6.1%

NASDAQ:ANAB opened at $59.51 on Tuesday. AnaptysBio, Inc. has a 1 year low of $11.40 and a 1 year high of $72.36. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -55.10 and a beta of 0.72. The stock has a 50-day moving average price of $60.37 and a two-hundred day moving average price of $54.63.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($1.20). AnaptysBio had a negative net margin of 11.53% and a negative return on equity of 1,101.24%. The business had revenue of $25.56 million during the quarter, compared to analyst estimates of $18.86 million. Sell-side analysts forecast that AnaptysBio, Inc. will post -1.35 earnings per share for the current year.

AnaptysBio announced that its board has initiated a stock repurchase plan on Friday, March 27th that allows the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization allows the biotechnology company to reacquire up to 5,352,316.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ANAB shares. Zacks Research lowered shares of AnaptysBio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Weiss Ratings downgraded AnaptysBio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Stifel Nicolaus lifted their price objective on AnaptysBio from $56.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. HC Wainwright started coverage on AnaptysBio in a research note on Wednesday, June 10th. They issued a “buy” rating and a $95.00 target price for the company. Finally, Wall Street Zen cut AnaptysBio from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, AnaptysBio has an average rating of “Moderate Buy” and a consensus target price of $81.82.

Insider Activity

In related news, Director John P. Schmid sold 20,645 shares of the company’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $56.11, for a total transaction of $1,158,390.95. Following the sale, the director owned 31,622 shares in the company, valued at approximately $1,774,310.42. This represents a 39.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel Faga sold 17,679 shares of the firm’s stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $61.61, for a total value of $1,089,203.19. Following the completion of the transaction, the chief executive officer owned 495,965 shares of the company’s stock, valued at approximately $30,556,403.65. This represents a 3.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 33.50% of the stock is owned by corporate insiders.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.