Stock Traders Buy High Volume of Call Options on Annovis Bio (NYSE:ANVS)

Annovis Bio, Inc. (NYSE:ANVS) was the recipient of unusually large options trading on Wednesday. Investors purchased 2,573 call options on the stock. This is an increase of 235% compared to the typical volume of 767 call options.

Analyst Ratings Changes

ANVS has been the subject of a number of research analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 target price on shares of Annovis Bio in a research report on Tuesday, April 14th. Weiss Ratings downgraded shares of Annovis Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.50.

Annovis Bio Stock Performance

Shares of NYSE ANVS traded up $0.02 during mid-day trading on Wednesday, reaching $1.96. 1,679,794 shares of the company traded hands, compared to its average volume of 727,728. The company’s fifty day moving average is $2.16 and its two-hundred day moving average is $2.82. Annovis Bio has a fifty-two week low of $1.54 and a fifty-two week high of $5.50. The stock has a market cap of $67.74 million, a PE ratio of -1.14 and a beta of 1.26.

Annovis Bio (NYSE:ANVS) last announced its earnings results on Friday, May 15th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.23).

Insider Buying and Selling

In other Annovis Bio news, Director Michael B. Hoffman acquired 713,800 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was purchased at an average cost of $2.10 per share, for a total transaction of $1,498,980.00. Following the transaction, the director owned 3,288,539 shares of the company’s stock, valued at $6,905,931.90. The trade was a 27.72% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 20.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ANVS. Marshall Wace LLP acquired a new position in Annovis Bio during the 4th quarter worth $2,511,000. Renaissance Technologies LLC acquired a new stake in shares of Annovis Bio in the first quarter valued at about $775,000. D.A. Davidson & CO. bought a new position in shares of Annovis Bio in the fourth quarter worth about $556,000. OMERS ADMINISTRATION Corp bought a new position in shares of Annovis Bio in the fourth quarter worth about $215,000. Finally, Vanguard Group Inc. lifted its position in shares of Annovis Bio by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 738,003 shares of the company’s stock worth $1,528,000 after purchasing an additional 41,239 shares during the last quarter. Institutional investors own 15.83% of the company’s stock.

Annovis Bio Company Profile

Annovis Bio, Inc (NYSE: ANVS) is a clinical-stage biotechnology company headquartered in Tampa, Florida, focused on the discovery and development of small molecule therapeutics for neurodegenerative and neuroinflammatory disorders. Leveraging a proprietary platform that targets protein trafficking and translational dysregulation, Annovis aims to restore cellular homeostasis by modulating the production and clearance of disease-related proteins. The company’s pipeline is designed to address critical pathways implicated in Alzheimer’s disease, Parkinson’s disease, multiple sclerosis and other central nervous system conditions.

The company’s lead asset, ANVS401 (Posiphen®), is an oral small molecule that has been evaluated in Phase 1 and Phase 2 clinical trials to reduce levels of amyloid precursor protein and its toxic fragments in Alzheimer’s patients.