Annovis Bio, Inc. (NYSE:ANVS) Short Interest Down 8.1% in May

Annovis Bio, Inc. (NYSE:ANVSGet Free Report) was the target of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 1,480,000 shares, a drop of 8.1% from the April 30th total of 1,610,000 shares. Based on an average trading volume of 532,600 shares, the short-interest ratio is currently 2.8 days.

Annovis Bio Price Performance

Shares of NYSE:ANVS opened at $6.81 on Tuesday. The company has a 50 day moving average of $9.13 and a 200-day moving average of $10.25. Annovis Bio has a one year low of $4.79 and a one year high of $22.49. The stock has a market cap of $76.07 million, a price-to-earnings ratio of -1.18 and a beta of 1.78.

Annovis Bio (NYSE:ANVSGet Free Report) last posted its earnings results on Monday, May 13th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.15. Equities research analysts anticipate that Annovis Bio will post -2.46 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Brookline Capital Management cut Annovis Bio from a “buy” rating to a “hold” rating and set a $9.00 target price for the company. in a research report on Wednesday, February 28th. Canaccord Genuity Group reduced their price objective on shares of Annovis Bio from $36.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Finally, HC Wainwright lowered their target price on shares of Annovis Bio from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, May 13th.

View Our Latest Stock Report on ANVS

Institutional Investors Weigh In On Annovis Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Advisors LLC bought a new stake in Annovis Bio in the 1st quarter valued at approximately $122,000. Vanguard Group Inc. lifted its position in shares of Annovis Bio by 6.1% in the first quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock worth $4,260,000 after purchasing an additional 20,588 shares in the last quarter. Redmond Asset Management LLC boosted its holdings in Annovis Bio by 6.1% during the first quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock worth $430,000 after purchasing an additional 2,077 shares during the last quarter. Wealthspire Advisors LLC grew its position in Annovis Bio by 9.9% in the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock valued at $206,000 after purchasing an additional 990 shares in the last quarter. Finally, Greenwich Wealth Management LLC acquired a new stake in Annovis Bio in the 4th quarter valued at $192,000. 15.83% of the stock is currently owned by institutional investors and hedge funds.

About Annovis Bio

(Get Free Report)

Annovis Bio, Inc, a clinical stage drug platform company, develops drugs to treat neurodegeneration. The company's lead product candidate is Buntanetap, which has completed three Phase 1/2 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.

See Also

Receive News & Ratings for Annovis Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Annovis Bio and related companies with MarketBeat.com's FREE daily email newsletter.