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

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

Annovis Bio Stock Down 2.6 %

Annovis Bio stock traded down $0.25 during mid-day trading on Thursday, reaching $9.30. 242,467 shares of the company’s stock traded hands, compared to its average volume of 792,053. The company has a market cap of $121.40 million, a price-to-earnings ratio of -1.82 and a beta of 1.72. The stock has a 50 day moving average of $8.59 and a two-hundred day moving average of $8.52. Annovis Bio has a 12-month low of $4.53 and a 12-month high of $22.49.

Annovis Bio (NYSE:ANVS) last released its quarterly earnings results on Thursday, August 15th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.19. As a group, sell-side analysts forecast that Annovis Bio will post -2.53 earnings per share for the current year.

Institutional Investors Weigh In On Annovis Bio

Several hedge funds and other institutional investors have recently made changes to their positions in ANVS. Greenwich Wealth Management LLC raised its stake in shares of Annovis Bio by 19.9% in the second quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock valued at $87,000 after acquiring an additional 2,500 shares during the period. XTX Topco Ltd purchased a new stake in shares of Annovis Bio in the second quarter valued at $115,000. Cetera Advisors LLC purchased a new stake in shares of Annovis Bio in the first quarter valued at $122,000. Redmond Asset Management LLC raised its stake in shares of 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. Finally, Vanguard Group Inc. grew its holdings in shares of 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 during the last quarter. Hedge funds and other institutional investors own 15.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.