Michael Hoffman Buys 15,000 Shares of Annovis Bio (NYSE:ANVS) Stock

Annovis Bio, Inc. (NYSE:ANVS) Director Michael Hoffman bought 15,000 shares of Annovis Bio stock in a transaction on Friday, November 14th. The stock was acquired at an average price of $2.11 per share, with a total value of $31,650.00. Following the completion of the purchase, the director directly owned 2,470,539 shares of the company’s stock, valued at approximately $5,212,837.29. The trade was a 0.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Annovis Bio Stock Up 0.3%

ANVS stock opened at $3.38 on Thursday. The firm has a 50 day moving average of $2.20 and a two-hundred day moving average of $2.36. Annovis Bio, Inc. has a 12 month low of $1.11 and a 12 month high of $7.52. The company has a market capitalization of $89.60 million, a price-to-earnings ratio of -2.35 and a beta of 1.61.

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

Institutional Trading of Annovis Bio

Several hedge funds have recently added to or reduced their stakes in ANVS. JPMorgan Chase & Co. grew its holdings in Annovis Bio by 69.3% in the 2nd 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. Jane Street Group LLC bought a new stake in shares of Annovis Bio in the second quarter valued at approximately $52,000. Warberg Asset Management LLC bought a new stake in shares of Annovis Bio in the first quarter valued at approximately $58,000. Marshall Wace LLP acquired a new stake in shares of Annovis Bio in the second quarter worth $197,000. Finally, Geode Capital Management LLC increased its position in Annovis Bio by 20.1% during the second quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock worth $398,000 after acquiring an additional 30,674 shares during the period. Institutional investors own 15.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ANVS shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price target on shares of Annovis Bio in a research report on Tuesday, September 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Annovis Bio in a research note on Wednesday, October 8th. HC Wainwright reduced their target price on Annovis Bio from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Finally, Zacks Research raised 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 given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.50.

About Annovis Bio

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.