2,401,476 Shares in Annovis Bio, Inc. $ANVS Purchased by Empery Asset Management LP

Empery Asset Management LP bought a new position in shares of Annovis Bio, Inc. (NYSE:ANVS) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,401,476 shares of the company’s stock, valued at approximately $4,466,745. Annovis Bio accounts for about 0.0% of Empery Asset Management LP’s holdings, making the stock its 6th largest position. Empery Asset Management LP owned about 6.93% of Annovis Bio at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Annovis Bio during the 2nd quarter valued at about $465,000. Bank of New York Mellon Corp acquired a new position in shares of Annovis Bio during the second quarter worth approximately $29,000. GSA Capital Partners LLP acquired a new position in Annovis Bio in the second quarter valued at about $93,000. Quadcap Wealth Management LLC bought a new stake in Annovis Bio in the 2nd quarter valued at $30,000. Finally, First National Trust Co lifted its holdings in shares of Annovis Bio by 50.0% during the 2nd quarter. First National Trust Co now owns 60,000 shares of the company’s stock worth $112,000 after acquiring an additional 20,000 shares during the period. Hedge funds and other institutional investors own 15.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ANVS. Weiss Ratings upgraded Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Canaccord Genuity Group reissued a “buy” rating on shares of Annovis Bio in a research report on Tuesday, August 18th. Zacks Research upgraded shares of Annovis Bio to a “hold” rating in a research report on Thursday, July 9th. Finally, Roth Capital lowered their price objective on Annovis Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $11.33.

Annovis Bio Stock Performance

NYSE:ANVS traded down $0.07 during mid-day trading on Friday, hitting $1.74. The company had a trading volume of 330,915 shares, compared to its average volume of 798,359. The firm has a market cap of $73.93 million, a P/E ratio of -0.97 and a beta of 1.25. The business’s fifty day moving average is $1.80 and its two-hundred day moving average is $2.05. Annovis Bio, Inc. has a fifty-two week low of $1.54 and a fifty-two week high of $5.50.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.05. Equities analysts forecast that Annovis Bio, Inc. will post -1.58 earnings per share for the current year.

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.