Empowered Funds LLC Makes New $13.91 Million Investment in AnaptysBio, Inc. $ANAB

Key Points

• Empowered Funds LLC acquired 206,010 AnaptysBio shares worth approximately $13.91 million, giving it a roughly 0.70% stake. Several other institutional investors, including Bank of America and HSBC, also initiated positions during the second quarter.
• AnaptysBio shares opened at $56.28, down 1.8%, with a market capitalization of about $1.67 billion. The stock has traded between $11.40 and $72.36 over the past year.
• Analyst sentiment remains a Moderate Buy, with 10 Buy, three Hold, and one Sell rating and an average price target of $80.00, although some firms recently downgraded the stock or reduced their targets.

Empowered Funds LLC acquired a new stake in shares of AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 206,010 shares of the biotechnology company's stock, valued at approximately $13,906,000. Empowered Funds LLC owned approximately 0.70% of AnaptysBio as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ANAB. Bank of America Corp DE purchased a new position in shares of AnaptysBio in the second quarter valued at $28,202,000. Jupiter Topco LLC purchased a new stake in AnaptysBio during the second quarter valued at $504,000. ADAR1 Capital Management LLC bought a new position in AnaptysBio during the second quarter valued at $250,000. Hsbc Holdings PLC bought a new position in AnaptysBio during the second quarter valued at $14,928,000. Finally, Ancora Advisors LLC purchased a new position in shares of AnaptysBio in the 2nd quarter worth $338,000.

AnaptysBio Stock Down 1.8%

Shares of ANAB stock opened at $56.28 on Friday. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -52.11 and a beta of 0.72. AnaptysBio, Inc. has a 52-week low of $11.40 and a 52-week high of $72.36. The company's 50 day moving average is $58.55 and its 200 day moving average is $59.06.

Analyst Upgrades and Downgrades

ANAB has been the topic of several analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of AnaptysBio in a research report on Friday, August 7th. TD Cowen lowered their price target on AnaptysBio from $75.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday. Wall Street Zen lowered shares of AnaptysBio from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 16th. Zacks Research cut shares of AnaptysBio from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 2nd. Finally, HC Wainwright reissued a "buy" rating and issued a $95.00 target price on shares of AnaptysBio in a research note on Monday, August 24th. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $80.00.

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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