Bank of America Corp DE Makes New $28.20 Million Investment in AnaptysBio, Inc. $ANAB

Key Points

• Bank of America initiated a $28.2 million position in AnaptysBio during the second quarter, purchasing 417,812 shares and acquiring a 1.41% stake. BlackRock and several other institutional investors also increased or initiated holdings.
• Analyst sentiment remains favorable, with 12 Buy ratings, three Holds and one Sell. AnaptysBio has a consensus “Moderate Buy” rating and an average price target of $79.85.
• AnaptysBio reported quarterly EPS of $5.11, exceeding estimates for a $0.46 loss, while revenue of $27.49 million also surpassed expectations. Shares opened at $53.92, below their 12-month high of $72.36.

Bank of America Corp DE bought a new position in AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 417,812 shares of the biotechnology company's stock, valued at approximately $28,202,000. Bank of America Corp DE owned 1.41% of AnaptysBio as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in AnaptysBio in the second quarter valued at approximately $124,473,000. Affinity Asset Advisors LLC grew its holdings in shares of AnaptysBio by 111.4% in 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 during the last quarter. 683 Capital Management LLC grew its holdings in shares of AnaptysBio by 18.5% in the fourth quarter. 683 Capital Management LLC now owns 648,093 shares of the biotechnology company's stock worth $31,420,000 after purchasing an additional 101,093 shares during the last quarter. Sofinnova Investments Inc. increased its stake in shares of AnaptysBio by 13.1% in the fourth quarter. Sofinnova Investments Inc. now owns 287,690 shares of the biotechnology company's stock worth $13,947,000 after buying an additional 33,422 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of AnaptysBio in the second quarter worth $14,928,000.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ANAB. HC Wainwright reissued a "buy" rating and set a $95.00 price target on shares of AnaptysBio in a research report on Tuesday. Weiss Ratings restated a "sell (e+)" rating on shares of AnaptysBio in a research report on Friday, August 7th. TD Cowen lowered their price objective on shares of AnaptysBio from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, August 25th. Wolfe Research reiterated an "outperform" rating and set a $78.00 target price on shares of AnaptysBio in a report on Monday, August 31st. Finally, Scotiabank cut AnaptysBio to a "hold" rating and set a $70.00 target price on the stock. in a research note on Tuesday, August 25th. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AnaptysBio currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.85.

AnaptysBio Trading Down 1.8%

NASDAQ ANAB opened at $53.92 on Wednesday. AnaptysBio, Inc. has a 12 month low of $13.81 and a 12 month high of $72.36. The stock's fifty day moving average price is $55.67 and its 200-day moving average price is $59.22. The stock has a market cap of $1.60 billion, a P/E ratio of 10.04 and a beta of 0.71.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its earnings results on Monday, September 21st. The biotechnology company reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $5.57. The business had revenue of $27.49 million during the quarter, compared to analysts' expectations of $14.06 million. AnaptysBio had a net margin of 82.37% and a return on equity of 112.00%. During the same period in the previous year, the company earned ($1.30) earnings per share. As a group, analysts forecast that AnaptysBio, Inc. will post -2.06 earnings per share for the current fiscal year.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on discovering and developing antibody-based medicines for cancer and immune-mediated diseases. The company's programs are designed to modulate immune-cell signaling and address conditions in which the immune system is either insufficiently active, as in cancer, or overly active, as in autoimmune and inflammatory disorders.

AnaptysBio's pipeline has included rosnilimab, an investigational antibody targeting CD200R1, and other immune-cell modulators aimed at autoimmune and inflammatory diseases.

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