Annovis Bio, Inc. (NYSE:ANVS – Get Free Report) Director Michael Hoffman acquired 5,000,000 shares of Annovis Bio stock in a transaction that occurred on Friday, November 6th. The stock was acquired at an average cost of $1.00 per share, for a total transaction of $5,000,000.00. Following the completion of the purchase, the director directly owned 8,364,883 shares of the company’s stock, valued at $8,364,883. This represents a 148.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Annovis Bio Trading Up 22.9%
Annovis Bio stock traded up $0.15 during midday trading on Friday, reaching $0.82. The company’s stock had a trading volume of 10,635,733 shares, compared to its average volume of 1,043,587. Annovis Bio, Inc. has a 52 week low of $0.62 and a 52 week high of $5.50. The business has a 50-day moving average price of $1.20 and a 200-day moving average price of $1.89. The stock has a market cap of $35.08 million, a PE ratio of -0.46 and a beta of 1.36.
Annovis Bio (NYSE:ANVS – Get Free Report) last issued its earnings results on Friday, August 14th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.05. As a group, research analysts predict that Annovis Bio, Inc. will post -1.32 EPS for the current fiscal year.
Hedge Funds Weigh In On Annovis Bio
Several institutional investors and hedge funds have recently added to or reduced their stakes in ANVS. Empery Asset Management LP bought a new position in shares of Annovis Bio during the second quarter valued at $4,466,745. Renaissance Technologies LLC acquired a new position in shares of Annovis Bio during the first quarter worth $775,000. BlackRock Inc. acquired a new position in shares of Annovis Bio during the second quarter worth $465,000. GSA Capital Partners LLP bought a new stake in shares of Annovis Bio in the second quarter worth $93,000. Finally, Headlands Technologies LLC bought a new stake in shares of Annovis Bio in the second quarter worth $89,000. 15.83% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
ANVS has been the subject of several research reports. Roth Capital dropped their price objective on shares of Annovis Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 27th. Canaccord Genuity Group reissued a “buy” rating on shares of Annovis Bio in a report on Tuesday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Annovis Bio in a research report on Friday, October 2nd. Zacks Research raised Annovis Bio to a “hold” rating in a report on Thursday, July 9th. Finally, Wall Street Zen cut Annovis Bio from a “sell” rating to a “strong sell” rating in a report on Monday, September 28th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.00.
View Our Latest Stock Report on Annovis Bio
About Annovis Bio
Annovis Bio, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases, including Alzheimer’s disease and Parkinson’s disease. The company’s research centers on therapies designed to address mechanisms associated with neurodegeneration rather than treating only individual symptoms.
Annovis Bio’s lead product candidate is buntanetap, formerly known as ANVS401. Buntanetap is an orally administered small molecule being investigated for its potential to reduce the production of multiple neurotoxic proteins linked to neurodegenerative disorders.
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