Fred Alger Management LLC Takes $602,000 Position in AnaptysBio, Inc. (NASDAQ:ANAB)

Fred Alger Management LLC acquired a new position in shares of AnaptysBio, Inc. (NASDAQ:ANAB) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 17,958 shares of the biotechnology company’s stock, valued at approximately $602,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ensign Peak Advisors Inc grew its holdings in AnaptysBio by 74.4% in the second quarter. Ensign Peak Advisors Inc now owns 75,755 shares of the biotechnology company’s stock worth $1,898,000 after purchasing an additional 32,313 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in AnaptysBio by 55.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after buying an additional 168,813 shares during the last quarter. Victory Capital Management Inc. increased its position in AnaptysBio by 677.9% during the 3rd quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company’s stock valued at $7,948,000 after buying an additional 206,750 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new stake in AnaptysBio in the second quarter valued at about $399,000. Finally, nVerses Capital LLC boosted its holdings in AnaptysBio by 700.0% in the third quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock worth $54,000 after acquiring an additional 1,400 shares in the last quarter.

Insider Transactions at AnaptysBio

In related news, insider Paul F. Lizzul sold 1,500 shares of AnaptysBio stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $38.67, for a total value of $58,005.00. Following the sale, the insider now owns 15,398 shares of the company’s stock, valued at approximately $595,440.66. This trade represents a 8.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dennis Mulroy sold 12,220 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $39.91, for a total transaction of $487,700.20. Following the transaction, the chief financial officer now owns 4,744 shares of the company’s stock, valued at $189,333.04. This represents a 72.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,440 shares of company stock valued at $892,936 in the last ninety days. 33.70% of the stock is currently owned by corporate insiders.

AnaptysBio Trading Down 0.6 %

Shares of ANAB stock opened at $24.96 on Monday. AnaptysBio, Inc. has a twelve month low of $13.96 and a twelve month high of $41.31. The stock has a market cap of $759.53 million, a P/E ratio of -4.11 and a beta of -0.24. The stock has a 50 day moving average of $28.13 and a 200 day moving average of $29.74.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.72) by $0.58. The firm had revenue of $30.02 million for the quarter, compared to the consensus estimate of $7.92 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. On average, research analysts predict that AnaptysBio, Inc. will post -6.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on ANAB. HC Wainwright cut their price objective on shares of AnaptysBio from $55.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and issued a $42.00 price target on shares of AnaptysBio in a report on Thursday, November 14th. UBS Group boosted their price objective on shares of AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their target price on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, Guggenheim boosted their price target on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.64.

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.