ADAR1 Capital Management LLC Sells 165,419 Shares of AnaptysBio, Inc. (NASDAQ:ANAB)

ADAR1 Capital Management LLC trimmed its stake in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 85.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,301 shares of the biotechnology company's stock after selling 165,419 shares during the period. ADAR1 Capital Management LLC owned approximately 0.09% of AnaptysBio worth $361,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ANAB. KLP Kapitalforvaltning AS bought a new position in shares of AnaptysBio in the 4th quarter worth $40,000. AlphaQuest LLC increased its stake in AnaptysBio by 1,891.5% in the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock valued at $59,000 after acquiring an additional 4,237 shares during the last quarter. Russell Investments Group Ltd. increased its stake in AnaptysBio by 1,585.8% in the fourth quarter. Russell Investments Group Ltd. now owns 5,698 shares of the biotechnology company's stock valued at $75,000 after acquiring an additional 5,360 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in AnaptysBio by 11.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,452 shares of the biotechnology company's stock valued at $85,000 after purchasing an additional 644 shares in the last quarter. Finally, Aristides Capital LLC bought a new stake in AnaptysBio during the fourth quarter worth about $168,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ANAB shares. Truist Financial decreased their price objective on AnaptysBio from $30.00 to $20.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Guggenheim reissued a "buy" rating on shares of AnaptysBio in a research note on Monday, March 3rd. HC Wainwright reaffirmed a "neutral" rating and issued a $22.00 price objective on shares of AnaptysBio in a research note on Tuesday, March 4th. Johnson Rice reiterated a "buy" rating on shares of AnaptysBio in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company upped their price target on shares of AnaptysBio from $40.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.11.

AnaptysBio Price Performance

ANAB traded up $0.93 during midday trading on Friday, reaching $17.17. 752,064 shares of the company's stock traded hands, compared to its average volume of 581,899. AnaptysBio, Inc. has a 52 week low of $12.21 and a 52 week high of $41.31. The firm has a fifty day moving average of $17.32 and a two-hundred day moving average of $20.47. The stock has a market capitalization of $526.55 million, a price-to-earnings ratio of -2.82 and a beta of -0.09.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its 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 firm had revenue of $43.11 million for the quarter, compared to analysts' expectations of $10.17 million. Sell-side analysts forecast that AnaptysBio, Inc. will post -6.08 EPS for the current year.

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

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.