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

Annovis Bio, Inc. (NYSE:ANVS) saw a significant decrease in short interest in February. As of February 15th, there was short interest totalling 1,440,000 shares, a decrease of 25.4% from the January 31st total of 1,930,000 shares. Based on an average trading volume of 495,200 shares, the short-interest ratio is currently 2.9 days.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ANVS shares. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Annovis Bio in a research note on Monday, November 11th. D. Boral Capital restated a “hold” rating on shares of Annovis Bio in a research note on Monday, February 10th. One investment 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $37.00.

Annovis Bio Price Performance

Shares of NYSE:ANVS traded up $0.02 on Tuesday, reaching $1.67. The company’s stock had a trading volume of 409,791 shares, compared to its average volume of 624,319. The stock’s 50-day moving average is $3.88 and its two-hundred day moving average is $6.39. Annovis Bio has a 52-week low of $1.57 and a 52-week high of $20.00. The stock has a market capitalization of $23.70 million, a P/E ratio of -0.37 and a beta of 1.63.

Institutional Investors Weigh In On Annovis Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Annovis Bio by 30.0% in the third quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock valued at $799,000 after buying an additional 22,881 shares during the last quarter. Merit Financial Group LLC raised its holdings in shares of Annovis Bio by 269.0% in the fourth quarter. Merit Financial Group LLC now owns 98,516 shares of the company’s stock valued at $496,000 after buying an additional 71,816 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Annovis Bio by 99.7% in the fourth quarter. Jane Street Group LLC now owns 68,107 shares of the company’s stock valued at $343,000 after buying an additional 34,001 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Annovis Bio in the fourth quarter valued at about $258,000. Finally, Quest Partners LLC purchased a new stake in shares of Annovis Bio in the third quarter valued at about $371,000. 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.