Michael Hoffman Acquires 39,200 Shares of Annovis Bio (NYSE:ANVS) Stock

Annovis Bio, Inc. (NYSE:ANVS) Director Michael Hoffman acquired 39,200 shares of the company’s stock in a transaction on Monday, November 24th. The stock was bought at an average cost of $4.08 per share, with a total value of $159,936.00. Following the completion of the acquisition, the director directly owned 2,519,739 shares in the company, valued at approximately $10,280,535.12. This represents a 1.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Annovis Bio Stock Performance

Shares of NYSE ANVS traded up $0.62 during trading hours on Tuesday, hitting $4.71. 1,487,692 shares of the stock were exchanged, compared to its average volume of 775,165. The company’s fifty day simple moving average is $2.29 and its two-hundred day simple moving average is $2.42. The company has a market cap of $124.83 million, a PE ratio of -3.29 and a beta of 1.61. Annovis Bio, Inc. has a 1-year low of $1.11 and a 1-year high of $7.39.

Annovis Bio (NYSE:ANVS) last announced its earnings results on Wednesday, November 12th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate 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 fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on ANVS shares. Zacks Research raised Annovis Bio to a “hold” rating in a research report on Friday, August 8th. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price objective on shares of Annovis Bio in a report on Tuesday, September 30th. HC Wainwright reduced their target price on shares of Annovis Bio from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Annovis Bio in a research report on Monday. Two investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.50.

Hedge Funds Weigh In On Annovis Bio

Several institutional investors have recently modified their holdings of ANVS. Marshall Wace LLP bought a new stake in Annovis Bio in the second quarter worth $197,000. Vanguard Group Inc. grew 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 worth $1,528,000 after buying an additional 41,239 shares during the last quarter. Warberg Asset Management LLC purchased a new position in Annovis Bio during the 1st quarter valued at $58,000. Geode Capital Management LLC increased its position in shares of Annovis Bio by 20.1% during the second 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 purchased a new position in shares of Annovis Bio during the 2nd quarter worth approximately $52,000. 15.83% of the stock is currently owned by institutional investors.

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.