Soleus Capital Management L.P. Invests $5.48 Million in AnaptysBio, Inc. (NASDAQ:ANAB)

Soleus Capital Management L.P. purchased a new stake in AnaptysBio, Inc. (NASDAQ:ANAB) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 414,000 shares of the biotechnology company’s stock, valued at approximately $5,481,000. Soleus Capital Management L.P. owned 1.36% of AnaptysBio as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in AnaptysBio by 131.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 1,531 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of AnaptysBio in the 4th quarter worth approximately $40,000. AlphaQuest LLC boosted its position in AnaptysBio by 1,891.5% during the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 4,237 shares during the period. Virtus ETF Advisers LLC grew its stake in AnaptysBio by 24.7% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock worth $63,000 after buying an additional 936 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position 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 worth $75,000 after buying an additional 5,360 shares during the period.

AnaptysBio Stock Performance

ANAB opened at $20.22 on Monday. The company has a market capitalization of $594.06 million, a PE ratio of -3.33 and a beta of -0.20. The stock’s fifty day moving average is $18.97 and its 200-day moving average is $18.24. AnaptysBio, Inc. has a one year low of $12.21 and a one year high of $41.31.

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

AnaptysBio announced that its board has approved a share repurchase program on Monday, March 24th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the biotechnology company to purchase up to 13.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of AnaptysBio from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. HC Wainwright reaffirmed a “neutral” rating and set a $22.00 price target on shares of AnaptysBio in a report on Tuesday, March 4th. Wedbush reissued an “outperform” rating and issued a $40.00 price objective on shares of AnaptysBio in a report on Thursday, May 1st. Johnson Rice reaffirmed a “buy” rating on shares of AnaptysBio in a research note on Wednesday, March 26th. Finally, Wolfe Research began 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. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.88.

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.