Annovis Bio Sees Unusually Large Options Volume (NYSE:ANVS)

Annovis Bio, Inc. (NYSE:ANVS) was the target of unusually large options trading on Thursday. Traders bought 3,361 call options on the company. This represents an increase of approximately 524% compared to the typical daily volume of 539 call options.

Analyst Ratings Changes

ANVS has been the topic of a number of research analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 target price on shares of Annovis Bio in a research report on Tuesday, April 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Annovis Bio in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Annovis Bio has an average rating of “Hold” and an average price target of $13.50.

Insider Activity at Annovis Bio

In other news, Director Michael B. Hoffman bought 713,800 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were acquired at an average price of $2.10 per share, for a total transaction of $1,498,980.00. Following the completion of the transaction, the director owned 3,288,539 shares of the company’s stock, valued at approximately $6,905,931.90. This trade represents a 27.72% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 20.80% of the company’s stock.

Hedge Funds Weigh In On Annovis Bio

Several institutional investors have recently added to or reduced their stakes in ANVS. Geode Capital Management LLC increased its position in Annovis Bio by 20.1% in the 2nd quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock valued at $398,000 after acquiring an additional 30,674 shares during the period. JPMorgan Chase & Co. increased its position in Annovis Bio by 69.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock valued at $32,000 after acquiring an additional 6,100 shares during the period. Marshall Wace LLP acquired a new position in Annovis Bio in the 2nd quarter valued at about $197,000. Jane Street Group LLC acquired a new position in Annovis Bio in the 2nd quarter valued at about $52,000. Finally, Vanguard Group Inc. increased its position in Annovis Bio by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 738,003 shares of the company’s stock valued at $1,528,000 after acquiring an additional 41,239 shares during the period. Institutional investors and hedge funds own 15.83% of the company’s stock.

Annovis Bio Stock Down 1.7%

Shares of ANVS stock opened at $1.81 on Friday. The stock has a market capitalization of $52.95 million, a PE ratio of -1.29 and a beta of 1.37. Annovis Bio has a 52-week low of $1.36 and a 52-week high of $5.50. The stock’s 50-day moving average price is $2.31 and its 200 day moving average price is $2.80.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings results on Friday, March 13th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.08).

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.