Annovis Bio Sees Unusually Large Options Volume (NYSE:ANVS)

Annovis Bio, Inc. (NYSE:ANVS) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 3,923 call options on the stock. This is an increase of 118% compared to the average volume of 1,803 call options.

Institutional Investors Weigh In On Annovis Bio

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in Annovis Bio by 67.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,561 shares of the company’s stock worth $39,000 after purchasing an additional 1,036 shares during the period. Private Trust Co. NA purchased a new position in Annovis Bio in the 4th quarter worth about $56,000. Northern Trust Corp bought a new stake in Annovis Bio during the 2nd quarter valued at about $145,000. Greenwich Wealth Management LLC purchased a new stake in Annovis Bio in the 4th quarter valued at about $192,000. Finally, Wealthspire Advisors LLC grew its stake in Annovis Bio by 9.9% in the 4th quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock worth $206,000 after acquiring an additional 990 shares in the last quarter. 15.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ANVS. Brookline Capital Management cut Annovis Bio from a “buy” rating to a “hold” rating and set a $9.00 price target for the company. in a report on Wednesday, February 28th. Canaccord Genuity Group began coverage on Annovis Bio in a research report on Friday, December 29th. They issued a “buy” rating and a $36.00 price target for the company. Canaccord Genuity Group initiated coverage on shares of Annovis Bio in a research note on Friday, December 29th. They set a “buy” rating and a $36.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Annovis Bio in a research note on Tuesday, April 2nd.

Annovis Bio Price Performance

Shares of NYSE:ANVS opened at $9.07 on Thursday. The firm has a market capitalization of $99.87 million, a PE ratio of -1.46 and a beta of 1.59. The business has a 50 day simple moving average of $10.37 and a two-hundred day simple moving average of $10.10. Annovis Bio has a 1 year low of $5.42 and a 1 year high of $22.49.

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 is in Phase 3 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.