Annovis Bio, Inc. (NYSE:ANVS) Sees Significant Decline in Short Interest

Annovis Bio, Inc. (NYSE:ANVS – Get Rating) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 173,100 shares, a drop of 21.9% from the April 15th total of 221,500 shares. Based on an average trading volume of 45,800 shares, the days-to-cover ratio is presently 3.8 days. Currently, 3.1% of the shares of the stock are short sold.

Hedge funds have recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in shares of Annovis Bio in the fourth quarter valued at $29,000. Wells Fargo & Company MN increased its position in Annovis Bio by 2,048.0% during the 2nd quarter. Wells Fargo & Company MN now owns 537 shares of the company’s stock worth $47,000 after purchasing an additional 512 shares in the last quarter. Essex LLC increased its position in Annovis Bio by 9.4% during the 1st quarter. Essex LLC now owns 11,593 shares of the company’s stock worth $155,000 after purchasing an additional 1,000 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Annovis Bio during the 4th quarter worth about $181,000. Finally, Renaissance Technologies LLC purchased a new stake in Annovis Bio during the 4th quarter worth about $185,000. Institutional investors and hedge funds own 13.68% of the company’s stock.

Separately, LADENBURG THALM/SH SH initiated coverage on Annovis Bio in a report on Monday, May 2nd. They issued a “buy” rating for the company.

Shares of ANVS stock opened at $9.42 on Monday. Annovis Bio has a fifty-two week low of $8.39 and a fifty-two week high of $132.00. The business has a fifty day simple moving average of $12.32 and a 200-day simple moving average of $17.11.

Annovis Bio (NYSE:ANVS – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.72) earnings per share for the quarter. As a group, sell-side analysts anticipate that Annovis Bio will post -3.02 earnings per share for the current fiscal year.

Annovis Bio Company Profile (Get Rating)

Annovis Bio, Inc, a clinical stage drug platform company, develops drugs to treat neurodegeneration. The company's lead compound is Buntanetap, an orally administered drug, which has completed Phase 2a clinical trials for the treatment of Alzheimer's disease (AD) and Parkinson's disease, as well as is in clinical trials for Alzheimer's disease in Down Syndrome and other chronic neurodegenerative disorders.

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