Voloridge Investment Management LLC Trims Stock Position in AnaptysBio, Inc. (NASDAQ:ANAB)

Voloridge Investment Management LLC lowered its stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB) by 49.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 87,513 shares of the biotechnology company’s stock after selling 85,708 shares during the period. Voloridge Investment Management LLC owned about 0.29% of AnaptysBio worth $1,159,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of AnaptysBio by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company’s stock valued at $24,411,000 after buying an additional 143,584 shares during the last quarter. Fairmount Funds Management LLC purchased a new position in shares of AnaptysBio during the 4th quarter valued at about $24,050,000. Boxer Capital Management LLC purchased a new position in shares of AnaptysBio during the 4th quarter valued at about $17,212,000. Sanofi purchased a new position in shares of AnaptysBio during the 4th quarter valued at about $10,882,000. Finally, Geode Capital Management LLC raised its stake in shares of AnaptysBio by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 486,597 shares of the biotechnology company’s stock valued at $6,444,000 after buying an additional 21,196 shares during the last quarter.

AnaptysBio Trading Up 3.8%

NASDAQ:ANAB opened at $20.90 on Thursday. AnaptysBio, Inc. has a 12 month low of $12.21 and a 12 month high of $41.31. The stock has a 50 day moving average of $19.57 and a two-hundred day moving average of $18.26. The firm has a market cap of $614.04 million, a P/E ratio of -3.44 and a beta of -0.20.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Monday, May 5th. The biotechnology company reported ($1.28) EPS for the quarter, topping 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 company had revenue of $27.77 million during the quarter, compared to analyst estimates of $15.27 million. On average, research analysts forecast that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio announced that its board has approved a stock buyback program on Monday, March 24th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the biotechnology company to repurchase up to 13.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ANAB shares. Wolfe Research started coverage on AnaptysBio in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price target for the company. HC Wainwright restated a “neutral” rating and issued a $22.00 price target on shares of AnaptysBio in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price target on AnaptysBio from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their price target on AnaptysBio from $40.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Johnson Rice restated a “buy” rating on shares of AnaptysBio in a research note on Wednesday, March 26th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.38.

AnaptysBio Company 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.