Traders Buy Large Volume of Annovis Bio Call Options (NYSE:ANVS)

Annovis Bio, Inc. (NYSE:ANVS) was the target of unusually large options trading activity on Thursday. Investors purchased 3,361 call options on the stock. This is an increase of approximately 524% compared to the average daily volume of 539 call options.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ANVS shares. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 price objective on shares of Annovis Bio in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Annovis Bio in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.50.

Annovis Bio Stock Performance

ANVS traded down $0.06 during trading on Thursday, hitting $1.79. The stock had a trading volume of 354,928 shares, compared to its average volume of 648,195. The company has a market capitalization of $52.25 million, a PE ratio of -1.28 and a beta of 1.37. Annovis Bio has a twelve month low of $1.36 and a twelve month high of $5.50. The stock has a 50 day simple moving average of $2.32 and a two-hundred day simple moving average of $2.81.

Annovis Bio (NYSE:ANVS) last announced its earnings results on Friday, March 13th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.08).

Insider Transactions at Annovis Bio

In other news, Director Michael B. Hoffman acquired 713,800 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was acquired at an average price of $2.10 per share, with a total value of $1,498,980.00. Following the completion of the purchase, the director directly owned 3,288,539 shares in the company, valued at approximately $6,905,931.90. This trade represents a 27.72% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 20.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Annovis Bio

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Annovis Bio by 5.9% in the third quarter. Vanguard Group Inc. now owns 738,003 shares of the company’s stock valued at $1,528,000 after acquiring an additional 41,239 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Annovis Bio during the fourth quarter worth $2,511,000. Geode Capital Management LLC lifted its stake in shares of Annovis Bio by 20.6% during the fourth quarter. Geode Capital Management LLC now owns 222,132 shares of the company’s stock worth $769,000 after buying an additional 37,978 shares during the period. D.A. Davidson & CO. acquired a new stake in shares of Annovis Bio during the fourth quarter worth $556,000. Finally, State Street Corp lifted its stake in shares of Annovis Bio by 92.6% during the fourth quarter. State Street Corp now owns 74,035 shares of the company’s stock worth $256,000 after buying an additional 35,600 shares during the period. 15.83% of the stock is currently owned by institutional investors and hedge funds.

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.