Insider Buying: Annovis Bio (NYSE:ANVS) Director Acquires 713,800 Shares of Stock

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

Annovis Bio Price Performance

NYSE ANVS traded down $0.01 during trading hours on Friday, hitting $2.28. 962,623 shares of the company’s stock traded hands, compared to its average volume of 435,018. The company has a market capitalization of $64.50 million, a PE ratio of -1.63 and a beta of 1.37. The firm’s 50-day moving average is $2.53 and its 200-day moving average is $2.84. Annovis Bio, Inc. has a 52-week low of $1.11 and a 52-week high of $5.50.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings results on Friday, March 13th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08). Equities research analysts predict that Annovis Bio, Inc. will post -2.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANVS. OMERS ADMINISTRATION Corp acquired a new stake in shares of Annovis Bio in the 4th quarter valued at $215,000. Marshall Wace LLP acquired a new position in shares of Annovis Bio during the second quarter worth $197,000. Bridgeway Capital Management LLC increased its holdings in Annovis Bio by 25.8% in the fourth 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 last quarter. Wealthspire Advisors LLC raised its stake in 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. Finally, Wells Fargo & Company MN raised 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 valued at $50,000 after buying an additional 4,561 shares in the last quarter. Institutional investors and hedge funds own 15.83% of the company’s stock.

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.