Fairmount Funds Management LLC Makes New Investment in AnaptysBio, Inc. (NASDAQ:ANAB)

Fairmount Funds Management LLC purchased a new position in shares of AnaptysBio, Inc. (NASDAQ:ANAB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,816,466 shares of the biotechnology company’s stock, valued at approximately $24,050,000. AnaptysBio accounts for approximately 2.4% of Fairmount Funds Management LLC’s investment portfolio, making the stock its 14th biggest position. Fairmount Funds Management LLC owned about 0.06% of AnaptysBio at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ANAB. JPMorgan Chase & Co. boosted its position in shares of AnaptysBio by 191.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company’s stock worth $1,130,000 after buying an additional 22,164 shares in the last quarter. Victory Capital Management Inc. increased its position in AnaptysBio by 41.0% during the 4th quarter. Victory Capital Management Inc. now owns 334,450 shares of the biotechnology company’s stock worth $4,428,000 after purchasing an additional 97,200 shares in the last quarter. Vanguard Group Inc. raised its stake in AnaptysBio by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company’s stock valued at $24,411,000 after purchasing an additional 143,584 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in AnaptysBio in the 4th quarter valued at about $311,000. Finally, AlphaQuest LLC boosted its stake in shares of AnaptysBio by 1,891.5% during the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock worth $59,000 after purchasing an additional 4,237 shares during the last quarter.

AnaptysBio Stock Down 2.5 %

ANAB opened at $19.61 on Thursday. AnaptysBio, Inc. has a 52-week low of $12.21 and a 52-week high of $41.31. The firm’s 50 day moving average is $18.45 and its 200-day moving average is $18.92. The firm has a market capitalization of $579.92 million, a P/E ratio of -3.23 and a beta of -0.20.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings results on Monday, May 5th. The biotechnology company reported ($1.28) 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 business had revenue of $27.77 million during the quarter, compared to the consensus estimate of $15.27 million. Equities analysts expect that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio announced that its Board of Directors has authorized a stock buyback program on Monday, March 24th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the biotechnology company to repurchase up to 13.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Johnson Rice reissued a “buy” rating on shares of AnaptysBio in a research note on Wednesday, March 26th. HC Wainwright reiterated a “neutral” rating and set a $22.00 price objective on shares of AnaptysBio in a report on Tuesday, March 4th. Wedbush restated an “outperform” rating and issued a $40.00 target price on shares of AnaptysBio in a report on Thursday, May 1st. Guggenheim increased their price target on shares of AnaptysBio from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AnaptysBio from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AnaptysBio has a consensus rating of “Moderate Buy” and a consensus price target 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.