Michael Hoffman Acquires 713,800 Shares of Annovis Bio (NYSE:ANVS) Stock

Annovis Bio, Inc. (NYSE:ANVS) Director Michael Hoffman bought 713,800 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was acquired at an average price of $2.10 per share, for a total transaction of $1,498,980.00. Following the completion of the purchase, the director directly owned 3,288,539 shares in the company, valued at approximately $6,905,931.90. The trade was a 27.72% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Annovis Bio Stock Down 0.2%

NYSE:ANVS opened at $2.28 on Friday. The business’s 50-day moving average price is $2.52 and its two-hundred day moving average price is $2.84. Annovis Bio, Inc. has a twelve month low of $1.11 and a twelve month high of $5.50. The stock has a market cap of $64.50 million, a P/E ratio of -1.63 and a beta of 1.37.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data on Friday, March 13th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.08). On average, equities research analysts expect that Annovis Bio, Inc. will post -2.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Annovis Bio in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Annovis Bio currently has an average rating of “Hold” and an average target price of $13.50.

Hedge Funds Weigh In On Annovis Bio

Several institutional investors have recently modified their holdings of the company. CWA Asset Management Group LLC raised its holdings in shares of Annovis Bio by 30.8% during the 4th quarter. CWA Asset Management Group LLC now owns 17,001 shares of the company’s stock valued at $59,000 after buying an additional 4,000 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Annovis Bio by 46.8% in the fourth quarter. Wells Fargo & Company MN now owns 14,307 shares of the company’s stock worth $50,000 after buying an additional 4,561 shares in the last quarter. Bridgeway Capital Management LLC grew its position in Annovis Bio by 25.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 24,400 shares of the company’s stock valued at $84,000 after acquiring an additional 5,000 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Annovis Bio by 69.3% during the second quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock worth $32,000 after acquiring an additional 6,100 shares in the last quarter. Finally, RKL Wealth Management LLC purchased a new position in shares of Annovis Bio during the fourth quarter worth approximately $35,000. 15.83% of the stock is currently owned by institutional investors.

About Annovis Bio

Annovis Bio, Inc (NYSE: ANVS) is a clinical-stage biotechnology company headquartered in Tampa, Florida, focused on the discovery and development of small molecule therapeutics for neurodegenerative and neuroinflammatory disorders. Leveraging a proprietary platform that targets protein trafficking and translational dysregulation, Annovis aims to restore cellular homeostasis by modulating the production and clearance of disease-related proteins. The company’s pipeline is designed to address critical pathways implicated in Alzheimer’s disease, Parkinson’s disease, multiple sclerosis and other central nervous system conditions.

The company’s lead asset, ANVS401 (Posiphen®), is an oral small molecule that has been evaluated in Phase 1 and Phase 2 clinical trials to reduce levels of amyloid precursor protein and its toxic fragments in Alzheimer’s patients.