Annovis Bio, Inc. (NYSE:ANVS) Short Interest Down 5.8% in November

Annovis Bio, Inc. (NYSE:ANVS) was the target of a large decrease in short interest in 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 volume of 254,500 shares, the days-to-cover ratio is presently 5.1 days.

Institutional Trading of Annovis Bio

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in 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 acquiring an additional 20,588 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Annovis Bio by 30.0% in the 3rd quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock valued at $799,000 after purchasing an additional 22,881 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Annovis Bio in the 3rd quarter worth approximately $371,000. State Street Corp increased its position in shares of Annovis Bio by 23.7% during the 3rd quarter. State Street Corp now owns 36,035 shares of the company’s stock valued at $290,000 after purchasing an additional 6,900 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Annovis Bio during the 2nd quarter valued at $115,000. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Maxim Group raised shares of Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Friday, October 25th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Annovis Bio currently has a consensus rating of “Buy” and a consensus target price of $32.17.

Annovis Bio Stock Performance

Shares of ANVS traded up $0.17 during mid-day trading on Tuesday, hitting $5.17. 228,876 shares of the stock were exchanged, compared to its average volume of 722,383. The company has a market cap of $71.33 million, a PE ratio of -1.12 and a beta of 1.59. Annovis Bio has a 52-week low of $4.53 and a 52-week high of $22.49. The firm has a 50-day moving average of $7.60 and a two-hundred day moving average of $8.20.

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

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.