SAN FRANCISCO—EcoR1 Capital, LLC, under the leadership of Oleg Nodelman, has recently increased its stake in AnaptysBio, Inc. (NASDAQ:) by purchasing additional shares valued at approximately $1.1 million. The transactions took place over three days, from December 30, 2024, to January 2, 2025. The timing is notable as AnaptysBio, currently valued at $403 million, trades near its 52-week low after declining 38% over the past year.
The purchases involved a total of 84,098 shares of common stock, acquired at prices ranging from $12.9182 to $12.9506 per share. These acquisitions were made by EcoR1 Capital Fund Qualified L.P., a private fund managed by EcoR1 Capital, with Nodelman serving as the controlling owner. According to InvestingPro, the company maintains a strong balance sheet with more cash than debt, though analysts’ price targets range widely from $18 to $59 per share.
Following these transactions, the Qualified Fund holds 7,401,972 shares of AnaptysBio, reflecting EcoR1’s continued confidence in the San Diego-based pharmaceutical company’s prospects. The company appears undervalued based on InvestingPro’s Fair Value analysis, with 12 additional exclusive insights available to subscribers.
In other recent news, AnaptysBio has experienced several significant developments. Truist Securities recently revised its price target for AnaptysBio from $30.00 to $20.00, following the company’s Phase 2b trial failure of ANB032 in atopic dermatitis. Despite this, Truist Securities maintained a Hold rating on the company’s shares. Guggenheim also adjusted its price target for AnaptysBio, reducing it to $36 from $90, while maintaining a Buy rating. This followed the company’s announcement that their BTLA agonist, ANB032, failed to meet primary or secondary endpoints in a Phase IIb atopic dermatitis study.
AnaptysBio reported a third-quarter net loss of $32.9 million, but also saw a significant increase in collaboration revenue, which rose to $30 million. Analysts from BTIG adjusted their stance on AnaptysBio shares from Buy to Neutral, while H.C. Wainwright reduced its price target due to increased operating expenses. The company’s ANB032 is advancing to a Phase 2b ARISE-AD trial, and rosnilimab is proceeding to a Phase 2b RENOIR RA trial. Positive results have also been reported from the GEMINI-1 and GEMINI-2 Phase 3 trials for imsidolimab, a treatment for generalized pustular psoriasis.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
