Short Interest in Annovis Bio, Inc. (NYSE:ANVS) Rises By 5.8%

Annovis Bio, Inc. (NYSE:ANVS) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,280,000 shares, an increase of 5.8% from the May 31st total of 1,210,000 shares. Based on an average daily trading volume, of 520,800 shares, the days-to-cover ratio is currently 2.5 days.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ANVS. HC Wainwright reiterated a “buy” rating and issued a $23.00 price target on shares of Annovis Bio in a report on Wednesday, June 12th. Rodman & Renshaw reiterated a “buy” rating and issued a $67.00 price target on shares of Annovis Bio in a report on Tuesday. Finally, Canaccord Genuity Group reduced their price target on Annovis Bio from $36.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.20.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Cetera Advisors LLC purchased a new position in Annovis Bio during the 1st quarter worth $122,000. Vanguard Group Inc. increased its holdings in shares of Annovis Bio by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock valued at $4,260,000 after acquiring an additional 20,588 shares during the period. Redmond Asset Management LLC increased its holdings in shares of Annovis Bio by 6.1% in the 1st quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock valued at $430,000 after acquiring an additional 2,077 shares during the period. Wealthspire Advisors LLC increased its holdings in shares of Annovis Bio by 9.9% in the 4th quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock valued at $206,000 after acquiring an additional 990 shares during the period. Finally, Greenwich Wealth Management LLC purchased a new position in shares of Annovis Bio in the 4th quarter valued at $192,000. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

Annovis Bio Stock Down 12.9 %

ANVS opened at $8.08 on Thursday. The stock’s fifty day moving average is $6.90 and its two-hundred day moving average is $9.88. The company has a market capitalization of $90.25 million, a P/E ratio of -1.41 and a beta of 1.75. Annovis Bio has a 52 week low of $4.53 and a 52 week high of $22.49.

Annovis Bio (NYSE:ANVS) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.15. Equities analysts anticipate that Annovis Bio will post -2.46 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 has completed three Phase 1/2 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.