Bank of New York Mellon Corp Sells 1,972 Shares of AnaptysBio, Inc. (NASDAQ:ANAB)

Bank of New York Mellon Corp lessened its stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,169 shares of the biotechnology company’s stock after selling 1,972 shares during the quarter. Bank of New York Mellon Corp owned about 0.19% of AnaptysBio worth $757,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in AnaptysBio during the third quarter worth approximately $229,000. Charles Schwab Investment Management Inc. lifted its stake in shares of AnaptysBio by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 160,321 shares of the biotechnology company’s stock worth $5,371,000 after buying an additional 5,043 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of AnaptysBio by 66.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 42,046 shares of the biotechnology company’s stock worth $1,409,000 after buying an additional 16,734 shares during the period. FMR LLC grew its stake in AnaptysBio by 15.3% in the 3rd quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock valued at $110,857,000 after buying an additional 438,557 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in AnaptysBio by 6,009.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 66,109 shares of the biotechnology company’s stock worth $2,215,000 after acquiring an additional 65,027 shares during the period.

Insiders Place Their Bets

In other news, Director Ecor1 Capital, Llc acquired 6,646 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was bought at an average price of $12.95 per share, with a total value of $86,065.70. Following the completion of the acquisition, the director now owns 7,880,094 shares in the company, valued at approximately $102,047,217.30. This represents a 0.08 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 33.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ANAB. Wedbush restated an “outperform” rating and set a $40.00 price target on shares of AnaptysBio in a report on Wednesday, February 12th. Guggenheim reaffirmed a “buy” rating on shares of AnaptysBio in a report on Monday, March 3rd. Wells Fargo & Company upped their price target on AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Truist Financial reduced their price objective on AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Wolfe Research initiated coverage on shares of AnaptysBio in a research note on Tuesday, February 4th. They set an “outperform” rating and a $25.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.11.

AnaptysBio Stock Performance

Shares of AnaptysBio stock opened at $18.19 on Thursday. AnaptysBio, Inc. has a twelve month low of $12.21 and a twelve month high of $41.31. The firm has a market cap of $557.83 million, a P/E ratio of -2.99 and a beta of 0.02. The firm’s 50-day simple moving average is $17.00 and its 200-day simple moving average is $22.19.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($1.61) by $0.89. The company had revenue of $43.11 million for the quarter, compared to analyst estimates of $10.17 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. On average, equities analysts forecast that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio declared that its Board of Directors has initiated a stock buyback program on Monday, March 24th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the biotechnology company to reacquire up to 13.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.