Insights

Here’s why the Anteotech (ASX:ADO) share price is up 57% in a month

It’s been a big month for Anteotech. Here’s what the company’s been up to.
The post Here’s why the Anteotech (ASX:ADO) share price is up 57% in a month appeared first on The Motley Fool Australia. –

The Anteotech Ltd (ASX: ADO) share price has been soaring over the last 30 days on the back of numerous announcements.

Over the last month, the company has signed 3 distribution agreements and submitted its SARS-CoV-2 Antigen Rapid Diagnostic Test to the Therapeutic Goods Administration (TGA) for approval.

Additionally, one of Anteotech’s directors indirectly purchased shares in the company recently.

The Anteotech share price finished yesterday’s session trading for 27.5 cents, 3.77% higher than its previous close and 57% higher than it was this time last month.

Let’s take a closer look at what’s been driving the research and development-focused company’s share price on the ASX lately.

The month that’s been for Anteotech

The Anteotech share price has recently been bolstered by a series of good news.

The last 30 days started out quiet for Anteotech before it began releasing a slew of news from early September.

First up, the company announced it had signed a distribution agreement that would see its EuGeni Reader Platform and SARS-CoV-2 Antigen Rapid Diagnostic Test available in Turkey.

The EuGeni Reader Platform is a rapid point-of-care testing device and the company’s COVID-19 antigen rapid tests are the first test available for use with the platform.

Anteotech signed another distribution agreement for EuGeni last fortnight. Under the second agreement, the platform and rapid COVID-19 tests will be distributed in Cyprus and Greece.

It hasn’t all been positive though. Last Tuesday wasn’t a great day for the Anteotech share price. It fell 12% despite one of the company’s directors indirectly purchasing 250,000 shares in Anteotech for between 22.5 cents and 23.5 cents apiece.

A director buying into a company’s stock is often seen as proof they have confidence in its ability to grow. However, Glenda McLoughlin’s purchase was completed on either 16 September or 17 September and announced on 21 September. Between 16 September and the ASX’s close on 20 September, the Anteotech share price gained 38%. That made McLoughlin’s purchase price minuscule.

Finally, Anteotech announced it had submitted EuGeni and its COVID-19 antigen rapid tests for TGA approval last week. If it gets approval, the system will be able to be sold and used in Australia.

It also signed a distribution agreement that will see the platform available in Romania.

Anteotech now has distribution agreements for EuGeni in place in 14 countries.  

Anteotech share price snapshot

It goes without saying that the last 30 days have been good for the Anteotech share price.

The company’s stock has also gained 150% since the start of 2021. It is also 243% higher than it was this time last year.

The post Here’s why the Anteotech (ASX:ADO) share price is up 57% in a month appeared first on The Motley Fool Australia.

Should you invest $1,000 in Anteotech right now?

Before you consider Anteotech, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Anteotech wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

AnteoTech (ASX:ADO) share price soars 7% on news of rapid COVID-19 test
Why Afterpay, AnteoTech, Cettire, & Vulcan shares are storming higher

These 3 ASX Healthcare shares have surged over 10% today

Why the AnteoTech (ASX:ADO) share price is advancing 9% today
Why Anteotech, API, Myer, & Whitehaven Coal shares are charging higher

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!