Affinity's Biotech Moves
Affinity Asset Advisors reshuffles diverse biotech portfolio, trimming stakes and initiating new positions in Q1.
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Key Points
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Bank of New York Mellon Corp boosted MBX Biosciences holding to 80,222 shares, worth about $2.40 million, up 6.6% in Q1.
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Renaissance Technologies LLC bought a new Immunovant stake in Q1, valued at about $4.78 million.
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Adlai Nortye Ltd. Sponsored ADR opened at $12.50 in the latest session, with a 12-month range of $0.88–$17.25 and notable moving averages (50-day $10.95; 200-day $9.58).
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Vanguard Group Inc. boosted its Oruka Therapeutics stake to 2,453,530 shares, roughly $74.37 million, in the fourth quarter.
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GHP Investment Advisors Inc. increased Abivax holdings by 155.6% in Q1 to 230 shares, worth about $26,000.
Affinity Asset Advisors LLC sold 100,000 shares of MBX Biosciences in the first quarter, cutting its stake by 40% to 150,000 shares worth about $4.48 million, according to Defense World. The move was part of a sweeping portfolio reshuffle that touched nearly a dozen health and biotech names.
The firm also slashed its Immunovant holding by 50%, initiated a brand-new position in Adlai Nortye, and trimmed stakes in both Oruka Therapeutics and Abivax. Other big investors were active in the same stocks — moving in opposite directions.
MBX Biosciences and Immunovant Cuts Lead Reductions
Affinity dropped its MBX Biosciences position from 250,000 shares to 150,000, valued at roughly $4.48 million after the sale, per Defense World. Not everyone was selling. Bank of New York Mellon Corp moved the other way, boosting its MBX stake by 6.6% to 80,222 shares worth about $2.40 million in the same quarter.
In Immunovant, Affinity cut its holding in half to 100,000 shares, valued near $2.48 million. Renaissance Technologies LLC took the other side of that trade, buying a brand-new Immunovant stake worth about $4.78 million in Q1. The two funds effectively swapped roles in the name.
Affinity Opens Fresh Position in Adlai Nortye ADR
While selling elsewhere, Affinity built a new position in Adlai Nortye Ltd. Sponsored ADR, picking up 164,748 shares worth about $1.14 million, according to Defense World. The stock opened its latest session at $12.50. Its 12-month range runs from $0.88 to $17.25, showing just how volatile the name has been.
Key moving averages back up the recent momentum. The 50-day average sits at $10.95 and the 200-day at $9.58 — both well below the current price. Other institutions also expanded their exposure to Adlai Nortye in the quarter.
Oruka Therapeutics Stake Trimmed as Vanguard Loads Up
Affinity reduced its Oruka Therapeutics position by 37.7%, leaving it with 499,673 shares valued at roughly $24.51 million, per Defense World. Vanguard Group took a much bigger swing in the prior quarter, boosting its Oruka stake to 2,453,530 shares worth about $74.37 million. That makes Vanguard one of the stock's largest institutional holders.
Abivax Trim Rounds Out a Busy Quarter for Affinity
Affinity closed out its repositioning by cutting its Abivax SA Sponsored ADR stake by 19.8% to 405,000 shares, valued at about $45.10 million, according to Defense World. Despite the trim, Abivax remains by far the firm's largest single disclosed position in this batch of filings.
Smaller investors also touched the name. GHP Investment Advisors Inc. raised its Abivax holding by 155.6% in Q1, though the firm's total position amounts to just 230 shares worth about $26,000. The divergence highlights how widely held — and watched — the stock has become across fund sizes.
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