Annovis Bio (NYSE:ANVS) Director Michael Hoffman Acquires 975,610 Shares

Annovis Bio, Inc. (NYSE:ANVS) Director Michael Hoffman acquired 975,610 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were bought at an average cost of $2.05 per share, for a total transaction of $2,000,000.50. Following the transaction, the director directly owned 2,455,539 shares of the company’s stock, valued at approximately $5,033,854.95. This trade represents a 65.92% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Annovis Bio Trading Up 7.1%

NYSE:ANVS traded up $0.15 during midday trading on Wednesday, reaching $2.26. The company had a trading volume of 360,289 shares, compared to its average volume of 499,318. Annovis Bio, Inc. has a 12-month low of $1.11 and a 12-month high of $7.77. The firm has a market capitalization of $55.23 million, a price-to-earnings ratio of -1.11 and a beta of 1.61. The stock’s fifty day simple moving average is $2.14 and its 200-day simple moving average is $2.32.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.01). As a group, sell-side analysts expect that Annovis Bio, Inc. will post -2.19 EPS for the current year.

Institutional Trading of Annovis Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new stake in Annovis Bio during the 2nd quarter worth approximately $197,000. Vanguard Group Inc. lifted its holdings in shares of Annovis Bio by 5.9% during the third quarter. Vanguard Group Inc. now owns 738,003 shares of the company’s stock worth $1,528,000 after purchasing an additional 41,239 shares during the period. Warberg Asset Management LLC purchased a new position in Annovis Bio in the 1st quarter valued at $58,000. Geode Capital Management LLC increased its stake 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 buying an additional 30,674 shares during the period. Finally, Jane Street Group LLC acquired a new position in Annovis Bio in the 2nd quarter valued at $52,000. 15.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ANVS has been the topic of a number of analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price objective on shares of Annovis Bio in a report on Tuesday, September 30th. HC Wainwright dropped their target price on Annovis Bio from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, September 3rd. Zacks Research raised Annovis Bio to a “hold” rating in a report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annovis Bio in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.50.

Annovis Bio Company Profile

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.