Annovis Bio (NYSE:ANVS) CEO Maria-Luisa Maccecchini Acquires 97,561 Shares

Annovis Bio, Inc. (NYSE:ANVS) CEO Maria-Luisa Maccecchini purchased 97,561 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were purchased at an average price of $2.05 per share, with a total value of $200,000.05. Following the completion of the purchase, the chief executive officer owned 1,212,020 shares in the company, valued at approximately $2,484,641. This trade represents a 8.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Annovis Bio Stock Up 15.2%

Shares of NYSE:ANVS opened at $2.43 on Thursday. The firm’s 50 day moving average price is $2.14 and its 200-day moving average price is $2.32. The stock has a market capitalization of $59.40 million, a PE ratio of -1.19 and a beta of 1.61. Annovis Bio, Inc. has a twelve month low of $1.11 and a twelve month high of $7.77.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Annovis Bio

A number of institutional investors have recently added to or reduced their stakes in ANVS. Vanguard Group Inc. boosted its stake in Annovis Bio by 5.9% in the third 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. Jane Street Group LLC acquired a new stake in Annovis Bio in the second quarter worth about $52,000. Marshall Wace LLP acquired a new stake in Annovis Bio in the 2nd quarter worth approximately $197,000. JPMorgan Chase & Co. grew its holdings in shares of Annovis Bio by 69.3% during the second 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 last quarter. Finally, Geode Capital Management LLC grew its stake in Annovis Bio by 20.1% during the 2nd quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock valued at $398,000 after purchasing an additional 30,674 shares during the last quarter. Institutional investors own 15.83% of the company’s stock.

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.