One of AN2 Therapeutics’ (NASDAQ:ANTX) top corporate insiders engaged in an enormous insider buy transaction yesterday. The clinical-stage biopharmaceutical company develops treatments for rare, chronic, and serious infectious diseases with high unmet needs.
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As per the SEC filing, Ra Capital Management, LLC., owner of more than 10% of ANTX stock, bought 1.78 million shares of the company on August 18 for a total consideration of $16 million.
It is worth highlighting that Ra Capital bought shares as part of the company’s underwritten offering of 7.78 million shares at a price of $9 per share. After the latest purchase, the total value of the firm’s holdings in ANTX stock now stands at about $76.3 million.
As per the data collected by TipRanks, Ra Capital has had a success rate of 51% in its seven transactions over the past three months, with an average return of 7.8% per transaction.
Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Technical Analysis on ANTX Stock Signals a Buy
Overall, on the one-day time frame, ANTX stock is a Buy, according to TipRanks’ easy-to-read technical summary signals. This is based on 16 Bullish, two Neutral, and four Bearish signals. According to the tool, the stock’s 50-Day EMA (exponential moving average) is 8.44, while the stock’s price is ~$14, making it a Buy. Further, AXP’s Price Rate of Change is 67.68, which also signals an uptrend.
