Palo Alto Investors LP Purchases Shares of 603,489 AnaptysBio, Inc. $ANAB

Palo Alto Investors LP bought a new stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 603,489 shares of the biotechnology company’s stock, valued at approximately $40,735,508. AnaptysBio comprises about 0.0% of Palo Alto Investors LP’s holdings, making the stock its 5th biggest position. Palo Alto Investors LP owned about 2.04% of AnaptysBio at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ANAB. Persistent Asset Partners Ltd acquired a new position in AnaptysBio in the second quarter worth about $39,000. Smartleaf Asset Management LLC raised its holdings in AnaptysBio by 5,864.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 821 shares during the period. Larson Financial Group LLC boosted its stake in shares of AnaptysBio by 54.6% during the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 473 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of AnaptysBio by 175.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock worth $48,000 after buying an additional 1,377 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its stake in shares of AnaptysBio by 11,630.0% in the second quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 2,326 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AnaptysBio in a research note on Friday, August 7th. Zacks Research cut shares of AnaptysBio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Leerink Partners set a $90.00 price target on AnaptysBio in a research report on Friday, May 15th. UBS Group raised their price objective on AnaptysBio from $60.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Piper Sandler decreased their price objective on AnaptysBio from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $80.00.

AnaptysBio Price Performance

NASDAQ ANAB traded down $1.01 during mid-day trading on Friday, hitting $56.28. The company’s stock had a trading volume of 358,263 shares, compared to its average volume of 711,071. AnaptysBio, Inc. has a 52-week low of $11.40 and a 52-week high of $72.36. The firm has a market capitalization of $1.67 billion, a P/E ratio of -52.11 and a beta of 0.72. The stock’s fifty day simple moving average is $58.57 and its two-hundred day simple moving average is $59.07.

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.