Annovis Bio (NYSE:ANVS) Director Michael Hoffman Purchases 20,000 Shares of Stock

Annovis Bio, Inc. (NYSE:ANVS) Director Michael Hoffman bought 20,000 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were bought at an average price of $3.50 per share, with a total value of $70,000.00. Following the completion of the purchase, the director owned 2,490,539 shares in the company, valued at approximately $8,716,886.50. The trade was a 0.81% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Annovis Bio Price Performance

Shares of ANVS traded down $0.09 during trading hours on Friday, hitting $3.79. The stock had a trading volume of 1,965,505 shares, compared to its average volume of 3,244,462. The firm has a market capitalization of $100.45 million, a PE ratio of -2.63 and a beta of 1.61. Annovis Bio, Inc. has a 12 month low of $1.11 and a 12 month high of $7.52. The stock has a fifty day moving average price of $2.26 and a 200 day moving average price of $2.39.

Annovis Bio (NYSE:ANVS) last announced its earnings results on Wednesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.01). As a group, 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 holdings in Annovis Bio by 69.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock worth $32,000 after buying an additional 6,100 shares during the period. Jane Street Group LLC bought a new position in shares of Annovis Bio in the second quarter worth about $52,000. Geode Capital Management LLC grew its position in shares of Annovis Bio by 20.1% during the second quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock worth $398,000 after purchasing an additional 30,674 shares in the last quarter. Warberg Asset Management LLC purchased a new stake in shares of Annovis Bio during the first quarter worth about $58,000. Finally, Vanguard Group Inc. raised its stake in Annovis Bio by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 738,003 shares of the company’s stock valued at $1,528,000 after purchasing an additional 41,239 shares during the period. 15.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ANVS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annovis Bio in a report on Wednesday, October 8th. Zacks Research upgraded Annovis Bio to a “hold” rating in a research note on Friday, August 8th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Annovis Bio in a report on Tuesday, September 30th. Finally, HC Wainwright cut their price target on Annovis Bio from $12.00 to $10.00 and set a “buy” rating for the company in a 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, Annovis Bio has a consensus rating of “Hold” and an average price target of $13.50.

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.