Annovis Bio, Inc. (NYSE:ANVS) Short Interest Update

Annovis Bio, Inc. (NYSE:ANVS) saw a large increase in short interest in 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 daily volume of 520,800 shares, the short-interest ratio is presently 2.5 days.

Hedge Funds Weigh In On Annovis Bio

Institutional investors have recently modified their holdings of the business. Private Trust Co. NA bought a new stake in shares of Annovis Bio during the fourth quarter worth $56,000. Cetera Advisors LLC bought a new position in shares of Annovis Bio during the first quarter worth about $122,000. Greenwich Wealth Management LLC acquired a new stake in Annovis Bio in the 4th quarter valued at approximately $192,000. Wealthspire Advisors LLC lifted its stake in Annovis Bio by 9.9% in the 4th quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock valued at $206,000 after acquiring an additional 990 shares in the last quarter. Finally, Redmond Asset Management LLC lifted its stake in Annovis Bio by 6.1% in the 1st quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock valued at $430,000 after acquiring an additional 2,077 shares in the last quarter. Institutional investors own 15.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ANVS. HC Wainwright reiterated a “buy” rating and set a $23.00 price target on shares of Annovis Bio in a research report on Wednesday, June 12th. Canaccord Genuity Group lowered their target price on shares of Annovis Bio from $36.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Finally, Rodman & Renshaw reiterated a “buy” rating and set a $67.00 target price on shares of Annovis Bio in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.20.

Annovis Bio Trading Down 14.7 %

Shares of NYSE:ANVS traded down $1.36 during mid-day trading on Wednesday, reaching $7.92. The stock had a trading volume of 3,266,067 shares, compared to its average volume of 747,326. The firm has a 50 day simple moving average of $6.99 and a two-hundred day simple moving average of $9.89. Annovis Bio has a twelve month low of $4.53 and a twelve month high of $22.49. The firm has a market cap of $88.47 million, a PE ratio of -1.42 and a beta of 1.75.

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

About Annovis Bio

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.