Anthem (NASDAQ:ANTX) Share Price Breaks Above Two Hundred Day Moving Average – What’s Next?

Anthem, Inc. (NASDAQ:ANTX)’s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $4.00 and traded as high as $4.60. Anthem shares last traded at $4.52, with a volume of 545,190 shares.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ANTX shares. Guggenheim began coverage on Anthem in a report on Monday, July 20th. They set a “buy” rating and a $9.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Anthem in a research note on Friday, October 2nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.00.

Anthem Stock Performance

The firm has a 50-day simple moving average of $4.90 and a two-hundred day simple moving average of $4.04.

Anthem (NASDAQ:ANTX) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter.

Insiders Place Their Bets

In other Anthem news, Director Robin Shane Readnour sold 35,402 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.01, for a total value of $212,766.02. Following the completion of the transaction, the director directly owned 565,592 shares of the company’s stock, valued at approximately $3,399,207.92. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 52,901 shares of company stock worth $318,282 in the last three months. 22.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Anthem

A number of hedge funds and other institutional investors have recently made changes to their positions in ANTX. Citizens Financial Group Inc. RI purchased a new position in shares of Anthem during the 2nd quarter valued at approximately $1,443,000. ADAR1 Capital Management LLC purchased a new stake in Anthem during the first quarter worth $47,000. OMERS ADMINISTRATION Corp purchased a new stake in Anthem during the first quarter worth $54,000. Velan Capital Investment Management LP purchased a new stake in Anthem during the second quarter worth $194,000. Finally, Seven Fleet Capital Management LP acquired a new stake in Anthem during the first quarter valued at $683,000. Institutional investors and hedge funds 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.