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AnaptysBio, Inc. (ANAB) Soars 6.2%: Is Further Upside Left in the Stock?

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AnaptysBio, Inc. (ANAB - Free Report) shares rallied 6.2% in the last trading session to close at $23.48. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12.5% loss over the past four weeks.

Last month, the company appointed Daniel Faga as its interim president and chief executive officer with immediate effect.This might have been driving the share price rally.

This company is expected to post quarterly loss of $0.87 per share in its upcoming report, which represents a year-over-year change of -31.8%. Revenues are expected to be $8.08 million, down 28.2% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For AnaptysBio, Inc., the consensus EPS estimate for the quarter has been revised 15.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ANAB going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

AnaptysBio, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Gritstone bio Inc. (GRTS - Free Report) , closed the last trading session 0.7% lower at $3.04. Over the past month, GRTS has returned -25%.

For Gritstone bio Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.33. This represents a change of -430% from what the company reported a year ago. Gritstone bio Inc. currently has a Zacks Rank of #3 (Hold).

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