Annovis Bio Target of Unusually High Options Trading (NYSE:ANVS)

Annovis Bio, Inc. (NYSE:ANVS) was the target of unusually large options trading activity on Monday. Traders purchased 7,789 put options on the company. This is an increase of approximately 209% compared to the typical volume of 2,519 put options.

Institutional Investors Weigh In On Annovis Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealthspire Advisors LLC lifted its holdings in shares of Annovis Bio by 9.9% in the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock valued at $206,000 after purchasing an additional 990 shares in the last quarter. Private Trust Co. NA acquired a new position in shares of Annovis Bio in the fourth quarter worth $56,000. Greenwich Wealth Management LLC purchased a new stake in shares of Annovis Bio in the fourth quarter valued at $192,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Annovis Bio during the third quarter valued at $2,847,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ANVS has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Annovis Bio in a research report on Tuesday, April 2nd. Brookline Capital Management cut shares of Annovis Bio from a “buy” rating to a “hold” rating and set a $9.00 price objective for the company. in a research report on Wednesday, February 28th.

Annovis Bio Stock Down 59.5 %

Shares of NYSE ANVS opened at $7.29 on Tuesday. Annovis Bio has a 52-week low of $5.23 and a 52-week high of $22.49. The stock has a market cap of $80.26 million, a PE ratio of -1.17 and a beta of 1.59. The business has a 50-day moving average price of $10.58 and a 200 day moving average price of $10.30.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings data on Friday, March 29th. The company reported ($1.09) earnings per share for the quarter. Sell-side analysts anticipate that Annovis Bio will post -3.35 earnings per share 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 is in Phase 3 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.