Short Interest in Annovis Bio, Inc. (NYSE:ANVS) Declines By 5.8%

Annovis Bio, Inc. (NYSE:ANVS) saw a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 1,310,000 shares, a decrease of 5.8% from the November 15th total of 1,390,000 shares. Based on an average daily trading volume, of 254,500 shares, the short-interest ratio is presently 5.1 days.

Institutional Trading of Annovis Bio

Several institutional investors and hedge funds have recently modified their holdings of ANVS. Quest Partners LLC bought a new stake in shares of Annovis Bio during the third quarter valued at approximately $371,000. Geode Capital Management LLC increased its holdings in Annovis Bio by 30.0% during the third quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock valued at $799,000 after buying an additional 22,881 shares during the period. Vanguard Group Inc. increased its holdings in Annovis Bio by 6.1% during the first quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock valued at $4,260,000 after buying an additional 20,588 shares during the period. XTX Topco Ltd purchased a new position in Annovis Bio during the second quarter valued at approximately $115,000. Finally, Cetera Advisors LLC purchased a new position in Annovis Bio during the first quarter valued at approximately $122,000. Institutional investors own 15.83% of the company’s stock.

Annovis Bio Price Performance

Shares of Annovis Bio stock traded down $0.01 during trading on Tuesday, reaching $4.99. 140,444 shares of the stock traded hands, compared to its average volume of 722,068. The company has a market capitalization of $68.85 million, a price-to-earnings ratio of -1.13 and a beta of 1.59. The business has a fifty day simple moving average of $7.60 and a two-hundred day simple moving average of $8.20. Annovis Bio has a 52-week low of $4.53 and a 52-week high of $22.49.

Annovis Bio (NYSE:ANVS) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.33). On average, research analysts predict that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Maxim Group upgraded Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, October 25th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Annovis Bio in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $32.17.

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.