Annovis Bio (NYSE:ANVS) Director Buys $142,763.28 in Stock

Annovis Bio, Inc. (NYSE:ANVS) Director Michael Hoffman purchased 76,344 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $1.87 per share, for a total transaction of $142,763.28. Following the completion of the transaction, the director directly owned 3,364,883 shares of the company’s stock, valued at $6,292,331.21. This trade represents a 2.32% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Annovis Bio Stock Performance

NYSE:ANVS traded up $0.12 during trading hours on Thursday, hitting $2.16. 1,237,355 shares of the company’s stock traded hands, compared to its average volume of 1,134,058. The firm has a market cap of $74.67 million, a P/E ratio of -1.26 and a beta of 1.26. Annovis Bio, Inc. has a twelve month low of $1.54 and a twelve month high of $5.50. The stock’s fifty day moving average price is $2.14 and its two-hundred day moving average price is $2.82.

Annovis Bio (NYSE:ANVS) last issued its earnings results on Friday, May 15th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.23).

Institutional Trading of Annovis Bio

Several hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new stake in Annovis Bio during the 1st quarter valued at approximately $775,000. Virtu Financial LLC bought a new stake in Annovis Bio during the 4th quarter valued at approximately $91,000. NewEdge Advisors LLC bought a new stake in Annovis Bio during the 4th quarter valued at approximately $71,000. Bridgeway Capital Management LLC boosted its stake in Annovis Bio by 25.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 24,400 shares of the company’s stock valued at $84,000 after purchasing an additional 5,000 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new stake in Annovis Bio during the 4th quarter valued at approximately $215,000. Institutional investors own 15.83% of the company’s stock.

Analyst Ratings Changes

ANVS has been the topic of several research reports. Weiss Ratings lowered Annovis Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price objective on shares of Annovis Bio in a report on Tuesday, April 14th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.50.

Annovis Bio Company Profile

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.