Bank of America Corp DE Lowers Stock Position in AnaptysBio, Inc. (NASDAQ:ANAB)

Bank of America Corp DE cut its stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) by 89.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,949 shares of the biotechnology company's stock after selling 148,287 shares during the quarter. Bank of America Corp DE owned approximately 0.06% of AnaptysBio worth $238,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of AnaptysBio by 41.0% in the fourth 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 during the period. Vanguard Group Inc. lifted its stake in shares of AnaptysBio by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company's stock valued at $24,411,000 after buying an additional 143,584 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in AnaptysBio in the 4th quarter worth $311,000. AlphaQuest LLC boosted its holdings in AnaptysBio by 1,891.5% in the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock worth $59,000 after buying an additional 4,237 shares during the period. Finally, Northern Trust Corp increased its stake in AnaptysBio by 10.0% in the 4th quarter. Northern Trust Corp now owns 219,986 shares of the biotechnology company's stock worth $2,913,000 after buying an additional 20,073 shares in the last quarter.

Wall Street Analyst Weigh In

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

AnaptysBio Price Performance

Shares of ANAB stock opened at $23.32 on Friday. The company has a market cap of $685.14 million, a PE ratio of -3.84 and a beta of -0.26. AnaptysBio, Inc. has a 1 year low of $12.21 and a 1 year high of $41.31. The stock's 50 day simple moving average is $20.62 and its two-hundred day simple moving average is $18.34.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The biotechnology company reported ($1.28) EPS for the quarter, topping the consensus estimate of ($1.30) by $0.02. The company had revenue of $27.77 million during the quarter, compared to analyst estimates of $15.27 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. Equities research analysts expect that AnaptysBio, Inc. will post -6.08 EPS for the current year.

AnaptysBio declared that its board has initiated a share buyback plan on Monday, March 24th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the biotechnology company to buy up to 13.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

AnaptysBio 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.

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