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

Annovis Bio, Inc. (NYSE:ANVS) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,680,000 shares, an increase of 16.7% from the February 13th total of 1,440,000 shares. Currently, 17.4% of the company’s stock are sold short. Based on an average daily volume of 505,000 shares, the short-interest ratio is presently 3.3 days.

Hedge Funds Weigh In On Annovis Bio

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in Annovis Bio during the 3rd quarter worth about $31,000. Two Sigma Investments LP purchased a new stake in shares of Annovis Bio during the 4th quarter worth about $55,000. XTX Topco Ltd purchased a new position in Annovis Bio in the 4th quarter valued at about $59,000. Atria Wealth Solutions Inc. purchased a new position in Annovis Bio in the 4th quarter valued at about $65,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Annovis Bio in the 3rd quarter valued at about $76,000. 15.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, D. Boral Capital reiterated a “hold” rating on shares of Annovis Bio in a report on Monday, February 10th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $37.00.

Annovis Bio Price Performance

NYSE ANVS opened at $1.82 on Friday. The stock’s fifty day moving average price is $3.05 and its 200 day moving average price is $5.81. Annovis Bio has a 1 year low of $1.53 and a 1 year high of $20.00. The company has a market cap of $25.84 million, a price-to-earnings ratio of -0.41 and a beta of 1.65.

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.