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

Key Points

• AnaptysBio shares rose 4.4%, trading at $58.47 after briefly moving above the 50-day moving average of $58.02; its 200-day average is $58.40.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an $82 price target. Barclays raised its target to $75, while Piper Sandler trimmed its target to $93 and several services downgraded the stock to “Hold.”
• The company reported a quarterly loss of $1.84 per share, missing expectations by $1.20, although revenue of $25.56 million exceeded estimates. Several institutional investors, including JPMorgan and AQR Capital Management, increased their holdings.

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report)'s stock price passed 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 traded.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barclays boosted their price objective on AnaptysBio from $63.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of AnaptysBio from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings reissued a "sell (e+)" rating on shares of AnaptysBio in a report on Friday, August 7th. Piper Sandler decreased their price objective on AnaptysBio from $95.00 to $93.00 and set an "overweight" rating on the stock in a research note on Monday, May 4th. Finally, Zacks Research cut AnaptysBio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 2nd. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

AnaptysBio Stock Up 4.4%

The company's 50-day moving average is $58.02 and its two-hundred day moving average is $58.40. The company has a market capitalization of $1.73 billion, a P/E ratio of -54.14 and a beta of 0.72.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($1.20). The business had revenue of $25.56 million for the quarter, compared to analyst estimates of $18.86 million. On average, sell-side analysts predict that AnaptysBio, Inc. will post -1.35 EPS for the current year.

Institutional Investors Weigh In On AnaptysBio

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its position in AnaptysBio by 153.3% in the first quarter. AQR Capital Management LLC now owns 30,011 shares of the biotechnology company's stock valued at $558,000 after purchasing an additional 18,165 shares during the last quarter. Creative Planning raised its position in AnaptysBio by 26.9% during the 2nd quarter. Creative Planning now owns 16,854 shares of the biotechnology company's stock valued at $374,000 after purchasing an additional 3,571 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in AnaptysBio by 1,631.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company's stock worth $5,497,000 after buying an additional 233,325 shares during the period. Russell Investments Group Ltd. purchased a new stake in AnaptysBio in the 2nd quarter worth approximately $528,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of AnaptysBio in the 2nd quarter worth approximately $3,348,000.

About AnaptysBio

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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