Insider Buying: Annovis Bio (NYSE:ANVS) Director Acquires 20,000 Shares of Stock

Annovis Bio, Inc. (NYSE:ANVS) Director Michael Hoffman bought 20,000 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was acquired at an average price of $3.50 per share, for a total transaction of $70,000.00. Following the acquisition, the director directly owned 2,490,539 shares in the company, valued at $8,716,886.50. This trade represents a 0.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Annovis Bio Stock Performance

Shares of ANVS stock traded down $0.09 during trading on Friday, hitting $3.79. 1,965,505 shares of the company were exchanged, compared to its average volume of 3,244,462. The firm has a market capitalization of $100.44 million, a price-to-earnings ratio of -2.63 and a beta of 1.61. The business’s 50-day simple moving average is $2.26 and its 200 day simple moving average is $2.39. Annovis Bio, Inc. has a twelve month low of $1.11 and a twelve month high of $7.52.

Annovis Bio (NYSE:ANVS) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.01). On average, equities analysts forecast that Annovis Bio, Inc. will post -2.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price target on shares of Annovis Bio in a research note on Tuesday, September 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Annovis Bio in a research note on Wednesday, October 8th. Zacks Research raised Annovis Bio to a “hold” rating in a research note on Friday, August 8th. Finally, HC Wainwright reduced their price target on Annovis Bio from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Annovis Bio has a consensus rating of “Hold” and a consensus target price of $13.50.

Hedge Funds Weigh In On Annovis Bio

Several hedge funds have recently bought and sold shares of ANVS. Marshall Wace LLP bought a new position in Annovis Bio during the second quarter valued at about $197,000. Vanguard Group Inc. raised its stake 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 acquiring an additional 41,239 shares in the last quarter. Warberg Asset Management LLC bought a new position in shares of Annovis Bio in the 1st quarter valued at approximately $58,000. Geode Capital Management LLC lifted its holdings in Annovis Bio by 20.1% in the 2nd quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock worth $398,000 after purchasing an additional 30,674 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Annovis Bio during the second quarter worth approximately $52,000. 15.83% of the stock is owned by institutional investors and hedge funds.

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.