AnaptysBio (NASDAQ:ANAB) Stock Passes Above 50-Day Moving Average – Time to Sell?

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 Ratings Changes

A number of brokerages recently weighed in on ANAB. Wall Street Zen downgraded shares of AnaptysBio from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 16th. Barclays upped their price target on shares of AnaptysBio from $63.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AnaptysBio in a report on Friday, August 7th. Leerink Partners set a $90.00 target price on AnaptysBio in a report on Friday, May 15th. Finally, UBS Group lifted their price objective on AnaptysBio from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Nine 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.00.

AnaptysBio Stock Up 4.4%

The company has a market capitalization of $1.73 billion, a P/E ratio of -54.14 and a beta of 0.72. The business has a 50 day moving average of $58.02 and a 200 day moving average of $58.40.

Institutional Investors Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently made changes to their positions in ANAB. BlackRock Inc. purchased a new position in shares of AnaptysBio during the second quarter valued at approximately $124,473,000. Vanguard Group Inc. raised its stake in shares of AnaptysBio by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company’s stock valued at $74,855,000 after acquiring an additional 67,048 shares in the last quarter. State Street Corp increased its holdings in AnaptysBio by 20.6% during the 4th quarter. State Street Corp now owns 1,053,474 shares of the biotechnology company’s stock worth $51,072,000 after purchasing an additional 180,042 shares during the period. Affinity Asset Advisors LLC grew its position in shares of AnaptysBio by 111.4% during the 1st quarter. Affinity Asset Advisors LLC now owns 940,000 shares of the biotechnology company’s stock worth $52,132,000 after buying an additional 495,308 shares in the last quarter. Finally, 683 Capital Management LLC lifted its stake in 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 acquiring an additional 101,093 shares during the period.

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.