Annovis Bio Target of Unusually High Options Trading (NYSE:ANVS)

Annovis Bio, Inc. (NYSE:ANVS) saw unusually large options trading activity on Friday. Stock investors purchased 3,595 put options on the company. This represents an increase of 139% compared to the typical daily volume of 1,505 put options.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ANVS. Roth Capital started coverage on shares of Annovis Bio in a report on Tuesday, July 7th. They set a “buy” rating and a $8.00 target price on the stock. Weiss Ratings raised Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Finally, Zacks Research upgraded Annovis Bio to a “hold” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Annovis Bio currently has an average rating of “Moderate Buy” and an average target price of $11.67.

Insider Transactions at Annovis Bio

In other Annovis Bio news, Director Michael B. Hoffman purchased 76,344 shares of Annovis Bio stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $1.87 per share, with a total value of $142,763.28. Following the completion of the transaction, the director owned 3,364,883 shares of the company’s stock, valued at $6,292,331.21. This trade represents a 2.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 20.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in Annovis Bio by 46.8% during the 4th quarter. Wells Fargo & Company MN now owns 14,307 shares of the company’s stock worth $50,000 after purchasing an additional 4,561 shares during the period. Bridgeway Capital Management LLC lifted its holdings in shares of Annovis Bio by 25.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 24,400 shares of the company’s stock valued at $84,000 after buying an additional 5,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of 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 buying an additional 6,100 shares during the period. RKL Wealth Management LLC purchased a new stake in shares of Annovis Bio in the fourth quarter valued at approximately $35,000. Finally, Wealthspire Advisors LLC boosted its stake in shares of Annovis Bio by 100.0% in the fourth quarter. Wealthspire Advisors LLC now owns 20,000 shares of the company’s stock valued at $69,000 after buying an additional 10,000 shares in the last quarter. 15.83% of the stock is owned by hedge funds and other institutional investors.

Annovis Bio Stock Performance

ANVS stock opened at $1.84 on Friday. The company’s 50 day moving average price is $1.80 and its 200 day moving average price is $2.11. Annovis Bio has a fifty-two week low of $1.54 and a fifty-two week high of $5.50. The firm has a market capitalization of $63.92 million, a price-to-earnings ratio of -1.08 and a beta of 1.25.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.05. Equities analysts forecast that Annovis Bio will post -1.58 EPS for the current fiscal year.

Annovis Bio Company Profile

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.