Anthem (NASDAQ:ANTX) Share Price Breaks Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• ANTX rose above its 200-day moving average of $4.14, reaching $4.51 before last trading at $4.33 on volume of 271,558 shares.
• Analyst views are mixed: two rate the stock Buy and one Sell, resulting in a consensus Hold rating and a $9 price target.
• The company reported a quarterly loss of $0.17 per share, while insiders sold 55,727 shares in the last quarter.

Anthem, Inc. (NASDAQ:ANTX - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $4.14 and traded as high as $4.51. Anthem shares last traded at $4.33, with a volume of 271,558 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ANTX shares. Weiss Ratings restated a "sell (d-)" rating on shares of Anthem in a report on Friday, October 2nd. Guggenheim assumed coverage on shares of Anthem in a report on Monday, July 20th. They issued a "buy" rating and a $9.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $9.00.

Anthem Price Performance

The company's fifty day moving average price is $4.69 and its 200 day moving average price is $4.14. The company has a market cap of $163.41 million, a PE ratio of -4.66 and a beta of -0.93.

Anthem (NASDAQ:ANTX - Get Free Report) last issued its quarterly earnings results on Monday, November 9th. The company reported ($0.17) earnings per share (EPS) for the quarter.

Insider Activity

In other Anthem news, Director Robin Shane Readnour sold 10,019 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $6.02, for a total value of $60,314.38. Following the completion of the transaction, the director owned 557,990 shares of the company's stock, valued at $3,359,099.80. The trade was a 1.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 55,727 shares of company stock valued at $330,207 in the last quarter. Company insiders own 22.61% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vivo Capital LLC purchased a new position in shares of Anthem in the first quarter valued at about $10,785,000. Commodore Capital LP purchased a new stake in shares of Anthem during the first quarter worth about $7,981,000. Spruce Street Capital LP purchased a new stake in shares of Anthem during the first quarter worth about $5,576,000. Ally Bridge Group NY LLC bought a new stake in shares of Anthem in the first quarter worth about $1,800,000. Finally, Bank of America Corp DE grew its stake in shares of Anthem by 2.2% in the first quarter. Bank of America Corp DE now owns 393,702 shares of the company's stock worth $1,346,000 after purchasing an additional 8,390 shares during the last quarter. Institutional investors own 90.47% of the company's stock.

About Anthem

An2 Therapeutics, Inc. is a clinical-stage biopharmaceutical company that traded on the Nasdaq under the symbol ANTX. The company focused on developing novel treatments for serious infectious diseases, with its lead candidate, epetraborole, designed as an oral therapy for pulmonary disease caused by nontuberculous mycobacteria (NTM). Epetraborole was evaluated in clinical studies involving patients with refractory Mycobacterium avium complex pulmonary disease, a difficult-to-treat infection that primarily affects the lungs.

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