Sterling Investment Advisors Ltd. Sells 10,500 Shares of Annovis Bio, Inc. (NYSE:ANVS)

Sterling Investment Advisors Ltd. reduced its position in Annovis Bio, Inc. (NYSE:ANVS) by 30.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,974 shares of the company’s stock after selling 10,500 shares during the period. Sterling Investment Advisors Ltd. owned approximately 0.17% of Annovis Bio worth $121,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Merit Financial Group LLC increased its position in shares of Annovis Bio by 269.0% during the fourth quarter. Merit Financial Group LLC now owns 98,516 shares of the company’s stock worth $496,000 after acquiring an additional 71,816 shares in the last quarter. State Street Corp increased its holdings in Annovis Bio by 23.7% during the 3rd quarter. State Street Corp now owns 36,035 shares of the company’s stock worth $290,000 after purchasing an additional 6,900 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in Annovis Bio during the third quarter worth $31,000. Geode Capital Management LLC grew its stake in shares of Annovis Bio by 30.0% in the 3rd quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock worth $799,000 after acquiring an additional 22,881 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Annovis Bio in the third quarter worth $371,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

Annovis Bio Price Performance

Annovis Bio stock opened at $1.97 on Tuesday. The firm has a fifty day simple moving average of $4.23 and a two-hundred day simple moving average of $6.66. Annovis Bio, Inc. has a twelve month low of $1.94 and a twelve month high of $20.00.

Analysts Set New Price Targets

A number of research firms have weighed in on ANVS. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Annovis Bio in a research note on Monday, November 11th. D. Boral Capital reissued a “hold” rating on shares of Annovis Bio in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.40.

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.