Short Interest in Annovis Bio, Inc. (NYSE:ANVS) Increases By 12.4%

Annovis Bio, Inc. (NYSE:ANVS) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 1,360,000 shares, an increase of 12.4% from the September 30th total of 1,210,000 shares. Based on an average daily volume of 248,000 shares, the short-interest ratio is currently 5.5 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a report on Wednesday, October 16th. Maxim Group upgraded shares of Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Friday, October 25th. Finally, EF Hutton Acquisition Co. I upgraded shares of Annovis Bio to a “strong-buy” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $32.17.

Annovis Bio Trading Down 2.6 %

Shares of NYSE:ANVS traded down $0.25 during trading on Thursday, reaching $9.30. The stock had a trading volume of 242,467 shares, compared to its average volume of 792,053. Annovis Bio has a one year low of $4.53 and a one year high of $22.49. The company has a market capitalization of $121.40 million, a P/E ratio of -1.82 and a beta of 1.72. The firm’s 50-day simple moving average is $8.59 and its 200 day simple moving average is $8.52.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.19. Equities research analysts forecast that Annovis Bio will post -2.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annovis Bio

Several hedge funds and other institutional investors have recently modified their holdings of ANVS. Cetera Advisors LLC purchased a new position in Annovis Bio during the 1st quarter worth approximately $122,000. Greenwich Wealth Management LLC raised its position in Annovis Bio by 19.9% during the 2nd quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock worth $87,000 after buying an additional 2,500 shares during the last quarter. XTX Topco Ltd purchased a new position in Annovis Bio during the 2nd quarter worth approximately $115,000. Redmond Asset Management LLC raised its position in Annovis Bio by 6.1% during the 1st quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock worth $430,000 after buying an additional 2,077 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Annovis Bio by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock worth $4,260,000 after buying an additional 20,588 shares during the last quarter. 15.83% of the stock is owned by hedge funds and other institutional investors.

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.