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

Annovis Bio, Inc. (NYSE:ANVS) was the recipient of a large increase in short interest in 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 trading volume, of 520,800 shares, the days-to-cover ratio is currently 2.5 days.

Hedge Funds Weigh In On Annovis Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Annovis Bio by 6.1% in the first quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock worth $4,260,000 after purchasing an additional 20,588 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Annovis Bio in the third quarter valued at approximately $2,847,000. Redmond Asset Management LLC boosted its stake in Annovis Bio by 6.1% in the first 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 during the period. Wealthspire Advisors LLC boosted its stake in Annovis Bio by 9.9% in the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock valued at $206,000 after acquiring an additional 990 shares during the period. Finally, Greenwich Wealth Management LLC bought a new stake in shares of Annovis Bio during the fourth quarter valued at approximately $192,000. 15.83% of the stock is owned by hedge funds and other institutional investors.

Annovis Bio Price Performance

NYSE ANVS traded down $1.36 during trading hours on Wednesday, hitting $7.92. The company had a trading volume of 3,266,067 shares, compared to its average volume of 747,326. Annovis Bio has a fifty-two week low of $4.53 and a fifty-two week high of $22.49. The company has a market capitalization of $88.47 million, a price-to-earnings ratio of -1.42 and a beta of 1.75. The firm’s 50 day moving average is $6.99 and its 200 day moving average is $9.89.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.72) earnings per share 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 year.

Wall Street Analysts Forecast Growth

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