Annovis Bio, Inc. (NYSE:ANVS) Sees Significant Growth in Short Interest

Annovis Bio, Inc. (NYSE:ANVS) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,500,000 shares, a growth of 11.1% from the March 15th total of 1,350,000 shares. Based on an average daily trading volume, of 268,500 shares, the short-interest ratio is presently 5.6 days.

Institutional Trading of Annovis Bio

A number of hedge funds have recently made changes to their positions in ANVS. Tower Research Capital LLC TRC grew its position in shares of Annovis Bio by 67.9% during the first quarter. Tower Research Capital LLC TRC now owns 2,561 shares of the company’s stock worth $39,000 after buying an additional 1,036 shares in the last quarter. Private Trust Co. NA acquired a new position in Annovis Bio in the fourth quarter worth $56,000. Northern Trust Corp acquired a new position in Annovis Bio in the second quarter worth $145,000. Greenwich Wealth Management LLC acquired a new position in Annovis Bio in the fourth quarter worth $192,000. Finally, Wealthspire Advisors LLC boosted its holdings in Annovis Bio by 9.9% in the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock worth $206,000 after purchasing an additional 990 shares during the period. Institutional investors and hedge funds own 15.83% of the company’s stock.

Annovis Bio Trading Down 4.7 %

ANVS stock opened at $11.63 on Monday. Annovis Bio has a twelve month low of $5.42 and a twelve month high of $22.49. The company has a market capitalization of $128.05 million, a P/E ratio of -1.87 and a beta of 1.59. The firm has a 50 day simple moving average of $10.37 and a 200-day simple moving average of $10.09.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a report on Tuesday, April 2nd. Brookline Capital Management downgraded 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. Canaccord Genuity Group began coverage on shares of Annovis Bio in a research report on Friday, December 29th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Canaccord Genuity Group began coverage on shares of Annovis Bio in a research report on Friday, December 29th. They issued a “buy” rating and a $36.00 price objective for the company.

About Annovis Bio

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.