Jennison Associates LLC Buys New Position in AnaptysBio, Inc. (NASDAQ:ANAB)

Jennison Associates LLC acquired a new position in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 264,889 shares of the biotechnology company's stock, valued at approximately $8,874,000. Jennison Associates LLC owned about 0.97% of AnaptysBio as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ANAB. Values First Advisors Inc. acquired a new stake in AnaptysBio during the 3rd quarter worth approximately $49,000. nVerses Capital LLC lifted its holdings in shares of AnaptysBio by 700.0% during the third quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company's stock worth $54,000 after buying an additional 1,400 shares in the last quarter. Headlands Technologies LLC boosted its position in shares of AnaptysBio by 444.8% in the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company's stock valued at $89,000 after acquiring an additional 2,900 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of AnaptysBio by 81.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company's stock valued at $195,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in AnaptysBio during the first quarter worth about $222,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ANAB. Truist Financial increased their target price on shares of AnaptysBio from $20.00 to $30.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. Wedbush reissued an "outperform" rating and set a $42.00 price target on shares of AnaptysBio in a research report on Thursday, November 14th. UBS Group raised their price objective on AnaptysBio from $23.00 to $33.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Guggenheim upped their target price on AnaptysBio from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Finally, HC Wainwright decreased their price target on AnaptysBio from $55.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $54.64.

Insiders Place Their Bets

In other news, insider Paul F. Lizzul sold 1,500 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.67, for a total transaction of $58,005.00. Following the sale, the insider now directly owns 15,398 shares in the company, valued at approximately $595,440.66. The trade was a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Dennis Mulroy sold 12,220 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $39.91, for a total transaction of $487,700.20. Following the completion of the transaction, the chief financial officer now owns 4,744 shares of the company's stock, valued at approximately $189,333.04. This trade represents a 72.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,440 shares of company stock valued at $892,936 in the last 90 days. Corporate insiders own 33.70% of the company's stock.

AnaptysBio Stock Performance

Shares of ANAB traded up $1.10 during mid-day trading on Friday, reaching $22.27. The company had a trading volume of 280,307 shares, compared to its average volume of 645,127. The company has a market capitalization of $677.68 million, a price-to-earnings ratio of -3.66 and a beta of -0.24. The company's 50 day simple moving average is $29.42 and its 200 day simple moving average is $29.69. AnaptysBio, Inc. has a 1-year low of $13.36 and a 1-year high of $41.31.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, topping analysts' consensus estimates of ($1.72) by $0.58. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The firm had revenue of $30.02 million for the quarter, compared to analysts' expectations of $7.92 million. As a group, equities analysts forecast that AnaptysBio, Inc. will post -6.02 earnings per share for the current fiscal year.

AnaptysBio 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.