Insider Buying: Annovis Bio (NYSE:ANVS) CEO Acquires $200,000.05 in Stock

Annovis Bio, Inc. (NYSE:ANVS) CEO Maria-Luisa Maccecchini purchased 97,561 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were purchased at an average price of $2.05 per share, for a total transaction of $200,000.05. Following the transaction, the chief executive officer owned 1,212,020 shares of the company’s stock, valued at $2,484,641. This trade represents a 8.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Annovis Bio Price Performance

Shares of NYSE ANVS traded up $0.15 during midday trading on Wednesday, hitting $2.26. 360,289 shares of the company’s stock were exchanged, compared to its average volume of 499,318. Annovis Bio, Inc. has a twelve month low of $1.11 and a twelve month high of $7.77. The company has a market cap of $55.23 million, a PE ratio of -1.11 and a beta of 1.61. The firm’s fifty day simple moving average is $2.14 and its 200-day simple moving average is $2.32.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.01). Equities analysts anticipate that Annovis Bio, Inc. will post -2.19 EPS for the current fiscal year.

Institutional Trading of Annovis Bio

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Annovis Bio by 69.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock valued at $32,000 after acquiring an additional 6,100 shares in the last quarter. Jane Street Group LLC acquired a new stake in Annovis Bio in the 2nd quarter valued at $52,000. Geode Capital Management LLC boosted its stake in Annovis Bio by 20.1% in the 2nd quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock valued at $398,000 after buying an additional 30,674 shares in the last quarter. Warberg Asset Management LLC bought a new stake in Annovis Bio in the first quarter valued at $58,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Annovis Bio by 5.9% during the third quarter. Vanguard Group Inc. now owns 738,003 shares of the company’s stock valued at $1,528,000 after acquiring an additional 41,239 shares during the period. 15.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ANVS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annovis Bio in a report on Wednesday, October 8th. Zacks Research upgraded shares of Annovis Bio to a “hold” rating in a report on Friday, August 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price target on shares of Annovis Bio in a research report on Tuesday, September 30th. Finally, HC Wainwright dropped their price objective on shares of Annovis Bio from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, September 3rd. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.50.

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.