Bank of America Corp DE Sells 148,287 Shares of AnaptysBio, Inc. (NASDAQ:ANAB)

Bank of America Corp DE reduced its holdings in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 89.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,949 shares of the biotechnology company's stock after selling 148,287 shares during the period. Bank of America Corp DE owned about 0.06% of AnaptysBio worth $238,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ANAB. Tower Research Capital LLC TRC boosted its position in AnaptysBio by 131.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock valued at $36,000 after buying an additional 1,531 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in AnaptysBio in the fourth quarter valued at about $40,000. AlphaQuest LLC boosted its position in AnaptysBio by 1,891.5% in the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock valued at $59,000 after buying an additional 4,237 shares in the last quarter. Virtus ETF Advisers LLC boosted its position in AnaptysBio by 24.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company's stock valued at $63,000 after buying an additional 936 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in AnaptysBio by 1,585.8% in the fourth quarter. Russell Investments Group Ltd. now owns 5,698 shares of the biotechnology company's stock valued at $75,000 after buying an additional 5,360 shares in the last quarter.

AnaptysBio Stock Performance

Shares of NASDAQ ANAB traded down $0.43 during trading on Wednesday, reaching $23.39. The company had a trading volume of 419,414 shares, compared to its average volume of 638,262. AnaptysBio, Inc. has a 52 week low of $12.21 and a 52 week high of $41.31. The stock has a market cap of $687.20 million, a PE ratio of -4.82 and a beta of -0.26. The business's 50 day moving average price is $21.03 and its 200-day moving average price is $18.35.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share for the quarter, topping analysts' consensus estimates of ($1.30) by $0.02. The business had revenue of $27.77 million during the quarter, compared to the consensus estimate of $15.27 million. AnaptysBio had a negative net margin of 125.70% and a negative return on equity of 282.47%. Equities analysts anticipate that AnaptysBio, Inc. will post -6.08 earnings per share for the current year.

AnaptysBio announced that its board has authorized a share buyback program on Monday, March 24th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the biotechnology company to purchase up to 13.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have commented on ANAB. Guggenheim restated a "buy" rating and issued a $90.00 price target (up from $54.00) on shares of AnaptysBio in a research report on Wednesday, May 28th. HC Wainwright upgraded shares of AnaptysBio from a "neutral" rating to a "buy" rating and boosted their price target for the company from $22.00 to $38.00 in a research report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their price target on shares of AnaptysBio from $36.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Wedbush restated an "outperform" rating and issued a $40.00 price target on shares of AnaptysBio in a research report on Thursday, May 29th. Finally, Johnson Rice reaffirmed a "buy" rating on shares of AnaptysBio in a research note on Wednesday, March 26th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $42.38.

AnaptysBio Company Profile

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.