Anthem (NASDAQ:ANTX) Stock Price Up 5.6% - Time to Buy?

Key Points

• ANTX shares rose 5.6% to $3.56, although trading volume was 61% below the average session level.
• Analyst views are mixed: Guggenheim initiated a Buy rating with a $9 price target, while Weiss Ratings maintained a Sell rating; the overall consensus is Hold with a $9 target.
• The article contains a ticker identity error: ANTX refers to AN2 Therapeutics, a clinical-stage biotechnology company—not former Anthem, Inc., which was renamed Elevance Health and trades as ELV.

Anthem, Inc. (NASDAQ:ANTX - Get Free Report)'s stock price shot up 5.6% during trading on Tuesday. The company traded as high as $3.59 and last traded at $3.56. Approximately 129,744 shares changed hands during trading, a decline of 61% from the average session volume of 328,782 shares. The stock had previously closed at $3.37.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ANTX shares. Guggenheim initiated coverage on Anthem in a research note on Monday, July 20th. They issued a "buy" rating and a $9.00 price objective for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Anthem in a research report on Friday, October 2nd. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Anthem has a consensus rating of "Hold" and a consensus target price of $9.00.

Anthem Price Performance

The stock has a 50-day moving average price of $5.21 and a two-hundred day moving average price of $4.77. The stock has a market cap of $134.35 million, a PE ratio of -3.33 and a beta of -0.98.

Anthem (NASDAQ:ANTX - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share for the quarter.

Insider Activity at Anthem

In other news, Director Robin Shane Readnour sold 35,402 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.01, for a total transaction of $212,766.02. Following the completion of the transaction, the director directly owned 565,592 shares in the company, valued at approximately $3,399,207.92. This represents a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 52,901 shares of company stock worth $318,282. 22.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Anthem

Several large investors have recently bought and sold shares of the business. Vivo Capital LLC bought a new position in Anthem during the first quarter valued at $10,785,000. Commodore Capital LP purchased a new position in shares of Anthem in the 1st quarter worth $7,981,000. Spruce Street Capital LP bought a new stake in shares of Anthem in the 1st quarter worth about $5,576,000. Ally Bridge Group NY LLC bought a new stake in shares of Anthem in the 1st quarter worth about $1,800,000. Finally, Seven Fleet Capital Management LP bought a new stake in shares of Anthem in the 1st quarter worth about $683,000. Institutional investors own 90.47% of the company's stock.

About Anthem

Anthem, Inc is not currently associated with the Nasdaq ticker ANTX. The former Anthem, Inc changed its name to Elevance Health, Inc in 2022 and trades under the ticker ELV. ANTX is the ticker for AN2 Therapeutics, Inc, a separate biotechnology company.

AN2 Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for infectious diseases, particularly conditions for which existing therapies are limited. Its research has centered on novel anti-infective medicines and diseases affecting underserved patient populations.

The company's lead investigational product has been epetraborole, an oral therapy studied for pulmonary disease caused by Mycobacterium avium complex, a difficult-to-treat bacterial infection.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.