Bank of America Corp DE Boosts Stock Position in AnaptysBio, Inc. $ANAB

Key Points

• Bank of America significantly increased its AnaptysBio position by 283.2% in the first quarter, acquiring 370,319 additional shares. It held 501,086 shares worth approximately $27.8 million, representing a 1.72% stake.
• Several other institutional investors also expanded their holdings, including Affinity Asset Advisors, which increased its position by 111.4% to 940,000 shares.
• Analysts remain generally positive, with nine Buy ratings, two Holds, and one Sell. AnaptysBio has a “Moderate Buy” consensus rating and an average price target of $82, compared with a recent share price of $58.47.

Bank of America Corp DE grew its holdings in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 283.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 501,086 shares of the biotechnology company's stock after purchasing an additional 370,319 shares during the quarter. Bank of America Corp DE owned 1.72% of AnaptysBio worth $27,790,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ANAB. ADAR1 Capital Management LLC purchased a new position in AnaptysBio in the first quarter worth approximately $205,000. Royal Bank of Canada lifted its position in shares of AnaptysBio by 145.6% during the 1st quarter. Royal Bank of Canada now owns 4,219 shares of the biotechnology company's stock worth $234,000 after purchasing an additional 2,501 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of AnaptysBio by 78.9% during the first quarter. The Manufacturers Life Insurance Company now owns 10,166 shares of the biotechnology company's stock worth $564,000 after purchasing an additional 4,484 shares in the last quarter. Affinity Asset Advisors LLC grew its stake in shares of AnaptysBio by 111.4% during the first quarter. Affinity Asset Advisors LLC now owns 940,000 shares of the biotechnology company's stock worth $52,132,000 after purchasing an additional 495,308 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in AnaptysBio by 19.1% in the first quarter. Renaissance Technologies LLC now owns 90,900 shares of the biotechnology company's stock valued at $5,041,000 after buying an additional 14,600 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Piper Sandler decreased their target price on AnaptysBio from $95.00 to $93.00 and set an "overweight" rating for the company in a research note on Monday, May 4th. UBS Group increased their price target on shares of AnaptysBio from $60.00 to $76.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Zacks Research cut shares of AnaptysBio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 2nd. HC Wainwright began coverage on shares of AnaptysBio in a research report on Wednesday, June 10th. They set a "buy" rating and a $95.00 price objective for the company. Finally, Barclays boosted their price objective on shares of AnaptysBio from $63.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 13th. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, AnaptysBio has an average rating of "Moderate Buy" and an average target price of $82.00.

AnaptysBio Stock Performance

Shares of ANAB opened at $58.47 on Monday. AnaptysBio, Inc. has a fifty-two week low of $11.40 and a fifty-two week high of $72.36. The firm has a 50-day simple moving average of $58.02 and a 200-day simple moving average of $58.48. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -54.14 and a beta of 0.72.

AnaptysBio 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.

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