Renaissance Technologies LLC purchased a new position in shares of Annovis Bio, Inc. (NYSE:ANVS – Free Report) during the first quarter, HoldingsChannel.com reports. The fund purchased 347,600 shares of the company’s stock, valued at approximately $775,000.
Several other institutional investors have also modified their holdings of the business. RKL Wealth Management LLC bought a new position in shares of Annovis Bio during the 4th quarter valued at about $35,000. RFG Advisory LLC bought a new stake in Annovis Bio during the 4th quarter worth approximately $43,000. Wells Fargo & Company MN raised its holdings in Annovis Bio by 46.8% during the 4th quarter. Wells Fargo & Company MN now owns 14,307 shares of the company’s stock worth $50,000 after buying an additional 4,561 shares during the period. JPMorgan Chase & Co. raised its holdings in Annovis Bio by 69.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock worth $32,000 after buying an additional 6,100 shares during the period. Finally, Koshinski Asset Management Inc. bought a new position in Annovis Bio in the fourth quarter valued at approximately $52,000. Institutional investors own 15.83% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on ANVS shares. Weiss Ratings upgraded shares of Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Zacks Research upgraded shares of Annovis Bio to a “hold” rating in a report on Thursday, July 9th. Finally, Roth Capital assumed coverage on shares of Annovis Bio in a research report on Tuesday, July 7th. They issued a “buy” rating and a $8.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.
Insider Buying and Selling at Annovis Bio
In other Annovis Bio news, Director Michael B. Hoffman acquired 76,344 shares of the stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $1.87 per share, for a total transaction of $142,763.28. Following the completion of the acquisition, the director directly owned 3,364,883 shares of the company’s stock, valued at approximately $6,292,331.21. This trade represents a 2.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.80% of the stock is owned by corporate insiders.
Annovis Bio Stock Performance
NYSE:ANVS opened at $1.84 on Friday. The company has a market cap of $63.93 million, a PE ratio of -1.03 and a beta of 1.25. Annovis Bio, Inc. has a 52-week low of $1.54 and a 52-week high of $5.50. The stock has a 50-day simple moving average of $1.80 and a 200 day simple moving average of $2.11.
Annovis Bio (NYSE:ANVS – Get Free Report) last announced its earnings results on Friday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. On average, research analysts predict that Annovis Bio, Inc. will post -1.58 earnings per share for the current fiscal year.
About Annovis Bio
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.
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