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

Annovis Bio, Inc. (NYSE:ANVS) saw some unusual options trading on Friday. Investors bought 3,595 put options on the company. This represents an increase of 139% compared to the typical volume of 1,505 put options.

Insider Buying and Selling

In other news, Director Michael B. Hoffman bought 76,344 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $1.87 per share, with a total value of $142,763.28. Following the transaction, the director directly owned 3,364,883 shares in the company, valued at $6,292,331.21. The trade was a 2.32% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 20.80% of the stock is owned by company insiders.

Institutional Trading of Annovis Bio

Hedge funds have recently added to or reduced their stakes in the company. Empery Asset Management LP purchased a new position in Annovis Bio in the second quarter worth approximately $4,466,745,000. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 41,239 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Annovis Bio in the 4th quarter valued at approximately $2,511,000. Renaissance Technologies LLC acquired a new stake in shares of Annovis Bio in the 1st quarter valued at $775,000. Finally, BlackRock Inc. acquired a new stake in shares of Annovis Bio in the 2nd quarter valued at $465,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Roth Capital started coverage on shares of Annovis Bio in a research note on Tuesday, July 7th. They issued a “buy” rating and a $8.00 price objective for the company. Zacks Research raised shares of Annovis Bio to a “hold” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

Annovis Bio Trading Up 1.4%

ANVS traded up $0.03 on Friday, hitting $1.81. 289,466 shares of the company were exchanged, compared to its average volume of 811,850. Annovis Bio has a twelve month low of $1.54 and a twelve month high of $5.50. The company has a market cap of $62.89 million, a price-to-earnings ratio of -1.07 and a beta of 1.25. The firm has a 50-day moving average price of $1.80 and a two-hundred day moving average price of $2.11.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.04. Equities analysts expect that Annovis Bio will post -1.58 EPS for the current 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.