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

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

Analyst Upgrades and Downgrades

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

Anthem Stock Performance

The stock’s 50 day moving average price is $5.15 and its two-hundred day moving average price is $4.77.

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

Insider Transactions at Anthem

In other Anthem news, Director Robin Shane Readnour sold 35,402 shares of the stock in a transaction dated Monday, August 17th. The shares were 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. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 52,901 shares of company stock valued at $318,282 over the last three months. Company insiders own 22.61% of the company’s stock.

Institutional Investors Weigh In On Anthem

Institutional investors have recently modified their holdings of the company. Vivo Capital LLC acquired a new stake in shares of Anthem in the 1st quarter worth approximately $10,785,000. Commodore Capital LP acquired a new position in Anthem during the first quarter worth $7,981,000. Spruce Street Capital LP purchased a new stake in Anthem during the first quarter worth $5,576,000. Ally Bridge Group NY LLC purchased a new stake in Anthem during the first quarter worth $1,800,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in Anthem during the second quarter worth $1,443,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Anthem Company Profile

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.