Sofinnova Investments Inc. Acquires 33,422 Shares of AnaptysBio, Inc. $ANAB

Sofinnova Investments Inc. raised its holdings in AnaptysBio, Inc. (NASDAQ:ANAB) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities & 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.’s holdings in AnaptysBio were worth $13,947,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Granahan Investment Management LLC increased its stake in shares of AnaptysBio by 12.2% during the third quarter. Granahan Investment Management LLC now owns 147,773 shares of the biotechnology company’s stock worth $4,525,000 after purchasing an additional 16,118 shares during the period. Vanguard Group Inc. grew its position in AnaptysBio by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company’s stock worth $74,855,000 after buying an additional 67,048 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of AnaptysBio by 333.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 145,191 shares of the biotechnology company’s stock valued at $4,446,000 after purchasing an additional 111,668 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of AnaptysBio by 56.0% in the 4th quarter. BNP Paribas Financial Markets now owns 164,823 shares of the biotechnology company’s stock valued at $7,991,000 after purchasing an additional 59,160 shares in the last quarter. Finally, Tema Etfs LLC boosted its holdings in shares of AnaptysBio by 105.6% in the 4th quarter. Tema Etfs LLC now owns 22,560 shares of the biotechnology company’s stock valued at $1,094,000 after purchasing an additional 11,585 shares in the last quarter.

Insider Transactions at AnaptysBio

In other AnaptysBio news, Director John P. Schmid sold 20,645 shares of the firm’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 $1,774,310.42. This trade represents a 39.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Daniel Faga sold 17,679 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 495,965 shares in the company, valued at $30,556,403.65. The trade was a 3.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 33.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ANAB shares. Zacks Research lowered AnaptysBio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Stifel Nicolaus lifted their target price on AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Weiss Ratings cut AnaptysBio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. HC Wainwright assumed coverage on AnaptysBio in a research note on Wednesday, June 10th. They set a “buy” rating and a $95.00 price target on the stock. Finally, UBS Group boosted their price objective on AnaptysBio from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, AnaptysBio presently has a consensus rating of “Moderate Buy” and an average target price of $81.82.

AnaptysBio Stock Performance

Shares of ANAB stock opened at $59.51 on Tuesday. AnaptysBio, Inc. has a 52-week low of $11.40 and a 52-week high of $72.36. The company has a market capitalization of $1.73 billion, a PE ratio of -55.10 and a beta of 0.72. The business’s fifty day moving average is $60.37 and its 200 day moving average is $54.63.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data 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 return on equity of 1,101.24% and a negative net margin of 11.53%.The business had revenue of $25.56 million during the quarter, compared to analysts’ expectations of $18.86 million. On average, sell-side analysts forecast that AnaptysBio, Inc. will post -1.35 EPS for the current fiscal year.

AnaptysBio declared that its Board of Directors has initiated a share buyback plan on Friday, March 27th that authorizes the company to buyback $100,000.00 billion in outstanding shares. This buyback authorization authorizes the biotechnology company to repurchase up to 5,352,316.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.