Down -32.84% in 4 Weeks, Here's Why You Should You Buy the Dip in AnaptysBio (ANAB)

Core Viewpoint - AnaptysBio, Inc. (ANAB) has experienced significant selling pressure, resulting in a 32.8% decline in stock price over the past four weeks, but analysts anticipate improved earnings in the near future [1] Group 1: Technical Analysis - The Relative Strength Index (RSI) for ANAB is currently at 28.5, indicating that the stock may be oversold and could be poised for a rebound as selling pressure exhausts [5] - The RSI is a momentum oscillator that ranges from 0 to 100, with a reading below 30 typically signaling that a stock is oversold [2][3] Group 2: Earnings Estimates - There has been a 6.1% increase in the consensus EPS estimate for ANAB over the last 30 days, driven by a strong agreement among sell-side analysts to raise earnings estimates for the current year [5] - An upward trend in earnings estimate revisions is generally associated with price appreciation in the near term [5] Group 3: Zacks Rank - ANAB holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, suggesting a potential turnaround for the stock [6]