AnaptysBio (NASDAQ:ANAB) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $58.02 and traded as high as $58.54. AnaptysBio shares last traded at $58.47, with a volume of 330,882 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of AnaptysBio in a report on Friday, August 7th. Zacks Research cut AnaptysBio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Leerink Partners set a $90.00 target price on AnaptysBio in a research note on Friday, May 15th. Piper Sandler reduced their target price on AnaptysBio from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Monday, May 4th. Finally, Wall Street Zen lowered AnaptysBio from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 16th. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

AnaptysBio Trading Up 4.4%

The firm has a 50 day moving average price of $58.02 and a 200 day moving average price of $58.40. The stock has a market capitalization of $1.73 billion, a PE ratio of -54.14 and a beta of 0.72.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings data on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($1.20). The company had revenue of $25.56 million during the quarter, compared to the consensus estimate of $18.86 million. On average, equities research analysts expect that AnaptysBio, Inc. will post -1.35 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in AnaptysBio in the 2nd quarter worth $124,473,000. Affinity Asset Advisors LLC lifted its position 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 valued at $52,132,000 after acquiring an additional 495,308 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of AnaptysBio by 283.2% in the first quarter. Bank of America Corp DE now owns 501,086 shares of the biotechnology company’s stock worth $27,790,000 after acquiring an additional 370,319 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of AnaptysBio by 1,631.6% in the second quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock worth $5,497,000 after acquiring an additional 233,325 shares during the period. Finally, Voloridge Investment Management LLC grew its holdings in AnaptysBio by 2,358.3% during the 4th quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company’s stock valued at $11,109,000 after buying an additional 219,816 shares in the last quarter.

AnaptysBio Company 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.