Short Interest in Annovis Bio, Inc. (NYSE:ANVS) Increases By 5.8%

Annovis Bio, Inc. (NYSE:ANVS) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,280,000 shares, an increase of 5.8% from the May 31st total of 1,210,000 shares. Based on an average trading volume of 520,800 shares, the short-interest ratio is currently 2.5 days.

Annovis Bio Trading Down 12.9 %

Shares of ANVS opened at $8.08 on Friday. The firm’s 50-day moving average price is $6.79 and its 200-day moving average price is $9.87. The firm has a market capitalization of $90.25 million, a price-to-earnings ratio of -1.41 and a beta of 1.74. Annovis Bio has a 1-year low of $4.53 and a 1-year high of $22.49.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.15. On average, research analysts forecast that Annovis Bio will post -2.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Private Trust Co. NA purchased a new position in Annovis Bio during the 4th quarter valued at about $56,000. Cetera Advisors LLC purchased a new position in Annovis Bio in the first quarter worth about $122,000. Greenwich Wealth Management LLC purchased a new position in Annovis Bio in the fourth quarter worth about $192,000. Wealthspire Advisors LLC raised its holdings in Annovis Bio by 9.9% in the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock worth $206,000 after buying an additional 990 shares during the last quarter. Finally, Redmond Asset Management LLC raised its holdings in Annovis Bio by 6.1% in the first quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock worth $430,000 after buying an additional 2,077 shares during the last quarter. 15.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ANVS has been the topic of a number of research reports. Canaccord Genuity Group cut their target price on shares of Annovis Bio from $36.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Rodman & Renshaw reaffirmed a “buy” rating and set a $67.00 target price on shares of Annovis Bio in a research note on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $23.00 target price on shares of Annovis Bio in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.20.

Annovis Bio Company Profile

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.